What Fracking Companies are Mining Now: Bitcoin

Pandemic Points Fracking Companies to Bitcoin Mining Containers

EZ Blockchain set a course to manufacture a superior crypto mining box and gain access to smarter energy sources.

Bitcoin has been slammed, particularly since then, for its electricity consumption. Studies have shown that Bitcoin’s energy consumption matches that of a country the size of Argentina.

In the journey for access to smarter energy, Gerasymovych turned EZ Blockchain to fracking companies. In the oil and gas industry (OAG), fracking companies were another sector slammed for their environmental impact. In their case, this was because of natural gas flaring.

Oil and gas wells that are fracked produce natural gas as a byproduct, but selling that gas is unprofitable without the needed infrastructure to transport it. So it’s burned (or “flared”) instead.

Then, a Pandemic

When Gerasymovych reached out to fracking companies in 2018, there was little interest from OAG producers in the Bitcoin mining solution he offered to eliminate flaring.

After the COVID-19 pandemic struck, however, the fall in the price of oil made the decision for them.

One year after the pandemic, EZ Blockchain had installed five Bitcoin mining operations around North America. Bitcoin mining has become the most cost-effective way to eliminate gas flaring, and a major market shift has begun.

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