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Bitcoin Inspires Positive Shift in Oil & Gas

Pressure on oil and gas (OAG) companies has increased as governments aim to reduce carbon emissions. For many small OAG companies, the changes mean business will no longer be viable.

Countries with Most Gas Flaring Look to Bitcoin as Solution

Source: www.worldbank.org

Bitcoin mining has come to offer a simple solution that can put an end to natural gas flaring and venting. This flaring alternative could save thousands of businesses over the next decade.

Bitcoin miners and leaders in cryptocurrency saw the problem in the OAG industry at the same time they grappled with a challenge of their own. Cryptocurrency mining requires a tremendous amount of electricity, which has become harder to get with growing energy regulations.

The natural gas otherwise flared away by OAG companies offered the opportunity for Bitcoin mining to solve two problems at once.

EZ Blockchain’s own Sergii Gerasymovych reached out to OAG companies in 2018 with the idea but with little success. OAG producers still didn’t see what was coming.

Now that Bitcoin has made headlines with its 600% jump in price in one year, however, and with more rigorous regulations coming down on the OAG industry, producers are now reaching out to EZ Blockchain to get ahead of the growing problem.

For the OAG industry, the writing is on the wall: cryptocurrency mining data centers are being installed at OAG producers everywhere as a solution to natural gas flaring and to produce a new source of reliable revenue, and everyone wins.

 

Click HERE to read the full article.

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