TechFlow news, according to sources, oil giant Exxon Mobil Corp. is launching a pilot project to power Bitcoin mining operations using waste gas from its oil wells in North Dakota.
The company is partnering with Crusoe Energy Systems to convert natural gas into electricity for mobile generators used in on-site mining operations. Due to insufficient pipeline infrastructure, large amounts of stranded natural gas are typically flared, resulting in energy waste. Crusoe Energy Systems is one of the pioneers in utilizing waste gas to power Bitcoin mining. The project started in January last year, and Exxon Mobil is already exploring similar initiatives in Alaska, Nigeria, Argentina, Guyana, and Germany.
Another oil major, ConocoPhillips, has previously stated it is supplying natural gas from the Bakken shale in North Dakota to support a Bitcoin mining project.
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