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US energy company opens mining facility in Middle East to use stranded natural..
Topic: Crusoe Energy to help Bitcoin Mining with Middle East Oil Producers (Read 51 times)
June 04, 2022, 02:46:12 AM
Middle-East is one of the fast growing regions in bitcoin adoption simply because the government over there has made the operations to the suitability of the citizens and crypto companies in the whole UAE such as Abu-Dhabi, Dubai Qatar, Kuwait etc. One of the major success in the middle east is the provision of a bitcoin trade free zone and a lasting solution to the challenging aspect of alternate power supply to boost bitcoin mining in the region, just as we could remember how miners have been finding it difficult with the use of electric power supply for it mining operations due to government regulations.
Crusoe Oil and Energy Gas Company, situated in the United States is set to partnered with the middle east oil producers in converting the waste of flare producing gas into a renewable energy that could be used for bitcoin mining in other to provide target solution to the natural flare gas waste energies from oil production and refining which is anither initiative in solving the environmental challenge that might have caused by natural resources, this call for the need for government to understand that bitcoin mining has no environmental degradation impact but rather a problem solver of the global energy inefficient energy waste from natural resources exploration and refining process.
The global Oil and Gas Companies are now taking a drastic steps to providing a long term lasting solution to the energy challenges in Bitcoin Mining by the conversion of waste natural energies from oil and gas exploration into a renewable energy that could serve in bitcoin mining, Exxon Mobil has conducted the moves as well and we also have the recent one whereby the bitcoin miners in Kenya enjoy the additional service from KenGen an energy company using thermal energy to mine bitcoin and we could see that the closer we are to mining 210000 blocks the more its difficulty and the more we get solution to the mining challenges.
Quote
Crusoe Energy, the privately held U.S. company that pioneered bitcoin (BTC) mining by using wasted natural gas as a power source, is expanding in the Middle Eastern region with investments from Mubadala – the sovereign wealth fund (SWF) of Abu Dhabi – and the Oman Investment Authority (OIA)
https://www.coindesk.com/business/2022/06/03/middle-east-oil-producers-move-into-bitcoin-mining-with-crusoe-energy-stakes/?outputType=amp
https://www.coindesk.com/business/2022/06/03/middle-east-oil-producers-move-into-bitcoin-mining-with-crusoe-energy-stakes/?outputType=amp
Crusoe Oil and Energy Gas Company, situated in the United States is set to partnered with the middle east oil producers in converting the waste of flare producing gas into a renewable energy that could be used for bitcoin mining in other to provide target solution to the natural flare gas waste energies from oil production and refining which is anither initiative in solving the environmental challenge that might have caused by natural resources, this call for the need for government to understand that bitcoin mining has no environmental degradation impact but rather a problem solver of the global energy inefficient energy waste from natural resources exploration and refining process.
The global Oil and Gas Companies are now taking a drastic steps to providing a long term lasting solution to the energy challenges in Bitcoin Mining by the conversion of waste natural energies from oil and gas exploration into a renewable energy that could serve in bitcoin mining, Exxon Mobil has conducted the moves as well and we also have the recent one whereby the bitcoin miners in Kenya enjoy the additional service from KenGen an energy company using thermal energy to mine bitcoin and we could see that the closer we are to mining 210000 blocks the more its difficulty and the more we get solution to the mining challenges.
Quote
In the flaring process, excess natural gas is burned off into the atmosphere as part of oil drilling operations. It has become standard industry practice because of the lack of transportation infrastructure. The process is under environmental scrutiny, however, with the U.S. President Joe Biden pledging to cut methane emissions from oil and gas operations. https://www.coindesk.com/business/2022/06/03/middle-east-oil-producers-move-into-bitcoin-mining-with-crusoe-energy-stakes/?outputType=amp
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