US energy company opens crypto mining facility in Middle East to use stranded natural gasSome critics, especially bitcoin mining critics have always said that bitcoin PoW is not environmentally friendly, but over 50% of mining hashrates are generated from renewable energy and bitcoin miners are going more towards carbon-free environment, although people are concentrating on bitcoin and not facing what is happening in the real world, even if all bitcoin mining hashrates are 100% generated from green energy, that does not change the global warming resulting from cutting of tress, shrinking of forests and the release of global warming gases from human activities.
Bitcoin miners are going more green and will be one of the industry that will likely go 100% of using green energy in the world.
On Wednesday, June 1 Bloomberg reported that Crusoe Energy, an operator repurposing wasted fuel energy to the computational power of crypto mining, would start its work in Oman, a nation that exports 21% of its gas production and seeks to zero gas flaring by 2030.
The American company will open an office in the capital city of Muscat, and install its equipment for capturing gas waste at well sites. It already held a workshop with the Omani largest energy producers, OQ SAOC and Petroleum Development Oman. The first pilot project will be launched by the end of this year or in early 2023, according to Crusoe’s CEO Chase Lochmiller.
Oman’s government interest in the partnership is driven by an aim to cut the country’s gas flaring — burning off the excessive flammable gas in the process of extraction. Together with Algeria, Iraq, Lybia, Egypt and Saudi Arabia, Oman accounts for 90% of flaring in the Arab region, while the region itself accounts for 38% of global flaring. In 2018, by the UN’s Economic and Social Commission for Western Asia estimate, 10% of all the gas consumption in Oman went for flaring.
Instead of gas flaring, converting gases that suppose to be waste to electricity and use to mine bitcoin has been a great move miners are approaching.
