xtlcd： Recycling Gas and Heat

Miners don’t only support renewables, but also make oil drilling a cleaner and more efficient process. 

Oil drilling frequently produces natural gas that cannot always be economically harnessed for consumption. As such, oil producers are forced to flare the gas, deriving no economic utility and polluting the environment in the process.

By contrast, if oil producers opted to use natural gas for mining, they could both profit and reduce the greenhouse gas emissions associated with the byproduct. Once again, mining is uniquely suited to this function for its location agnosticism, modularity, and portability.

Oil field Bitcoin mining has been growing especially fast in the United States and Canada over recent years. Exxon – a major multinational oil and gas corporation – expressed plans to use Bitcoin mining for this express purpose in March. 

The primary motivation among the oil industry appears to be emissions reduction. Data from Crusoe energy shows that it is the clear most economically efficient method for reducing emissions – over 4X more effective than wind investment, and over 6X more effective than solar investment. 

But just as oil drilling produces natural gas as a byproduct, Bitcoin mining produces heat as a byproduct. 

This provides another economic resource-recycling opportunity. Bitcoin miners can potentially use heat recovery for district heating while subsidizing those heating costs with the Bitcoin it generates. 

Furthermore, if those miners are powered by renewable sources, then the industry can effectively reduce the carbon emissions associated with heating – the world’s single largest source of CO2 emissions. 


xtlcd：http://www.xtlcd.com

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