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Natural Gas Intel Reports on Win-Win for Miners

A New, United Front Faces the Future of Mining.
The North American oil and gas industry (OAG) has a growing love affair with cryptocurrency. The relationship is relatively new but has already resulted in extraordinarily lucrative results for both miners and OAG producers.

Bitcoin mining now offers OAG producers an instant way to utilize stranded and otherwise-flared natural gas right at the wellhead. No investments in pipelines, liquefaction, gas treatment, or compressor stations are required.

Sergii Gerasymovych of EZ Blockchain was quoted in a recent Natural Gas Intel article, describing how the company uses excess natural gas to power onsite Bitcoin mining operations. 

Bitcoin consumes over 8.6 GW of power globally on an annual basis, which exceeds the consumption of whole countries like Greece, Argentina, or Austria. These vast needs for power have inspired more efficient mining equipment like the (EZ Blockchain ASIC mining container) as well as the new partnership with the OAG industry.

New Efficiencies in Mining (Gas and Bitcoin)

The new, symbiotic relationship between Bitcoin miners and OAG firms provides miners with an abundant source of affordable energy. The OAG firms — those in exploration and production — then monetize natural gas that would have otherwise never reached the market.

OAG producers also reduce natural gas flaring and methane leakage by selling the natural gas to on-site miners instead.

“Our goal is to monetize the gas as well as solve some of the environmental problems of leaking wells and flared gas,” said Gerasymovych. “It’s not just a one-way road here.”

Click HERE to read the full article.

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