Flare gas mining is old news but it never hurts to remind folks about it.
I 1st came across it in 2015 and yes, it makes perfect sense because the simple fact is that flaring incurs huge CO2 emission penalties but the penalties are not assessed just because the gas is being burned - it is because the gas is burned without producing any useful work. If the waste gas is used to power generators, pumps, etc then there is no flaring charges for the gas that is used. In the case of using generators to power miners it's a win-win with no or greatly reduced flaring costs and a nice profit from mining.
Topic: Oil Producers and Bitcoin Miners Meet in Texas (Read 342 times)
Talking about development and initiatives in Bitcoin mining, it always interest me seeing new edges were gained each day, I've come to think about it, having an effective firm/industry and Bitcoin collaboration, this is one of the milestone journey in Bitcoin mining had craved for long awhile, it's sounds like when a government and private sectors synergies together for a new development project.
Bitcoin mining is now on a success terrane as it had an encounter meetups with the oil producers on how they can make efficient use of their resources and how minners could take advantage of the direct energy source, it explains further:
A meetup in a vehicle warehouse in Houston served as an encounter point for oil producers and bitcoin miners to talk about possible on-site crypto mining opportunities last week. More than 200 investors attended the meeting to talk about an alliance, that would allow oil producers to make more efficient management of their resources and miners could take advantage of direct sources of energy that would be wasted otherwise.
Oil Producers and Miners Meet to Talk Bitcoin Mining
Several oil producers and bitcoin miners met last week in Texas to talk about the possibilities of on-site mining that Texas energy producers could bring for them. The meetup, that happened in a vehicle warehouse in Houston, served as a point of encounter to examine these possibilities. Oil wells that are not so big to build pipelines into their operations usually burn the natural gas pockets encountered on site.
However, bitcoin (BTC) mining can provide a better solution. This natural gas can be used to power generators that would feed micro mining operations in each well. This arrangement would bring benefits to both miners and producers and would be also beneficial to the environment, not having to burn this gas to release it into the atmosphere.
Taking Advantage of China’s Ousting
One of the key targets of Texas’ oilmen is to capture the numerous bitcoin mining entrepreneurs that are still looking to relocate their operations after being ousted from China. Alejandro de la Torre is one of these miners that are still shipping mining rigs from China to the U.S. He declared these miners were in several Pacific ships waiting to be delivered to ports.
However, many of these deals are done secretly and aren’t disclosed to the public eye. Some deals are protected by nondisclosure agreements and other players in the space just don’t want to talk about their relationships because it would give competitors in the space an edge.
https://news.bitcoin.com/oil-producers-and-bitcoin-miners-meet-in-texas-to-discuss-cooperative-mining-possibilities/
Bitcoin mining is now on a success terrane as it had an encounter meetups with the oil producers on how they can make efficient use of their resources and how minners could take advantage of the direct energy source, it explains further:
A meetup in a vehicle warehouse in Houston served as an encounter point for oil producers and bitcoin miners to talk about possible on-site crypto mining opportunities last week. More than 200 investors attended the meeting to talk about an alliance, that would allow oil producers to make more efficient management of their resources and miners could take advantage of direct sources of energy that would be wasted otherwise.
Oil Producers and Miners Meet to Talk Bitcoin Mining
Several oil producers and bitcoin miners met last week in Texas to talk about the possibilities of on-site mining that Texas energy producers could bring for them. The meetup, that happened in a vehicle warehouse in Houston, served as a point of encounter to examine these possibilities. Oil wells that are not so big to build pipelines into their operations usually burn the natural gas pockets encountered on site.
However, bitcoin (BTC) mining can provide a better solution. This natural gas can be used to power generators that would feed micro mining operations in each well. This arrangement would bring benefits to both miners and producers and would be also beneficial to the environment, not having to burn this gas to release it into the atmosphere.
Taking Advantage of China’s Ousting
One of the key targets of Texas’ oilmen is to capture the numerous bitcoin mining entrepreneurs that are still looking to relocate their operations after being ousted from China. Alejandro de la Torre is one of these miners that are still shipping mining rigs from China to the U.S. He declared these miners were in several Pacific ships waiting to be delivered to ports.
However, many of these deals are done secretly and aren’t disclosed to the public eye. Some deals are protected by nondisclosure agreements and other players in the space just don’t want to talk about their relationships because it would give competitors in the space an edge.
https://news.bitcoin.com/oil-producers-and-bitcoin-miners-meet-in-texas-to-discuss-cooperative-mining-possibilities/
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