Cryptocurrency News

Easy Blockchain Partners with Texas-based Oil Provider to Monetize Wasted Natural Gas with Bitcoin – Mining Bitcoin News


While many media pundits and politicians are talking about the energy consumption of bitcoin, before all the controversies many companies are working towards a green solution. Unfortunately, critics do not highlight the amount of use or co-production applications of renewable miners. A project called Easy Blockchain has partnered with Silver Energy, a Texas-based oil and gas service provider, to monetize wasted natural gas with bitcoin, while reducing emissions.

Monetize trapped gas and reduce emissions with bitcoin

A firm whom. is called Easy Blockchain It has recently been detailed that the company has partnered with Silver Energy, an oil and gas provider based in Texas. According to the firm, the team set up Silver Energy’s first mining site at the company’s Alberta, Canada location in February 2021.

After the installation of Microbt Whatsminers, EZ Blockchain stated that the project had reached a power consumption of around 1 MW. All the company’s power is “processed with 250 MCFd of trapped natural gas using a gas-electric generator” blog post notes.

Installation of Easy Blockchain at Silver Energy’s site.

“Today, oil and gas producers are implementing bitcoin mining in the oil sector as a part of their ESG policy,” Easy Blockchain cofounder and CEO Sergei Gerasimovich said in the report. Gerasimovich said:

The massive electricity consumption of bitcoin mining could solve the environmental problems caused by gas flashes and leaking wells. Since Silver Energy is an oil and gas services company, it was a natural symbiosis to work with them for the Easy Blockchain.

Natural gas is a by-product of oil extraction and oil providers either have to flare gas or use it in some other way. world Bank an estimate 5.3 trillion cubic feet of natural gas flows into the atmosphere annually.

Easy Blockchain’s manufacturing production line designs and builds mobile data centers that act as a flashy mitigation system. The company says that the Silver Energy project took three days to build and was fully operational by March 2021.

“We’ve had the privilege of working with Easy Blockchain over the past year. Joel Gordon, President and CEO of Silver Energy explained,” Their support in getting our mine up and running was invaluable, saving us countless hours and maximizing uptime was done.”

According to Easy Blockchain’s website, the company has expanded significantly since its launch in 2017 and is now headquartered in Chicago, LA and Estonia. To date, EZ Blockchain has produced and installed 35 MW and is 20 MW more in production.

As a Canadian business, this firm is not the only company to build a mobile bitcoin mining data center Upstream data Also provides trapped gas solutions. Without this, Crusoe Energy Systems The US-based business also offers similar crypto mining solutions for oil and gas producers.

What do you think about Easy Blockchain partnering with Silver Energy to mine bitcoin with additional gas? Tell us what you think about this topic in the comments section below.

Tag in this story

Bitcoin, bitcoin mining, Canada, data centers, Easy Blockchain, The gas, Mining facilities, Mining rigs, natural gas, oil, oil wells, Power Generation, Trapped gas

Image credit: Shutterstock, Pixabay, WikiCommons, Easy Blockchain

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell any products, services, or companies, or a recommendation or endorsement of any products, services or companies. Bitcoin.com Does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is directly or indirectly responsible for any damage or loss in connection with the use or reliance of any of the materials, goods or services mentioned in this article.





Source link

findmostly
Avinash is a blogger, Enterprenuer, marketer and author. He is very good affiliate marketer and Product Reviewer.
https://findmostly.com