{"id":421069,"date":"2022-03-25T01:00:19","date_gmt":"2022-03-24T22:00:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/exxon-mobil-is-using-excess-natural-gas-to-power-crypto-mining-report\/"},"modified":"2022-03-25T01:00:19","modified_gmt":"2022-03-24T22:00:19","slug":"exxon-mobil-is-using-excess-natural-gas-to-power-crypto-mining-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/exxon-mobil-is-using-excess-natural-gas-to-power-crypto-mining-report\/","title":{"rendered":"# Exxon Mobil is using excess natural gas to power crypto mining: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a358148dc612\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a358148dc612\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/exxon-mobil-is-using-excess-natural-gas-to-power-crypto-mining-report\/#%E2%80%9D_Exxon_Mobil_is_using_excess_natural_gas_to_power_crypto_mining_Report_%E2%80%9C\" >&#8221; Exxon Mobil is using excess natural gas to power crypto mining: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Exxon_Mobil_is_using_excess_natural_gas_to_power_crypto_mining_Report_%E2%80%9C\"><\/span>&#8221; Exxon Mobil is using excess natural gas to power crypto mining: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZjBmNTNiYTUtMjU3NS00ZTU3LWJiOTMtODU0NjY2MzY0YzBhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>United States-based energy producer Exxon Mobil has reportedly been running a pilot program aimed at using the energy from excess gas to power crypto mining rigs \u2014 and it may be expanding its operations to four other countries.<\/p>\n<p>In a Thursday report, Bloomberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-24\/exxon-considers-taking-gas-to-bitcoin-pilot-to-four-countries\">said<\/a> Exxon Mobil had inked a deal with Crusoe Energy to use excess gas from oil wells in North Dakota to run Bitcoin (BTC) miners. The project reportedly uses 18 million cubic feet of natural gas per month \u2014 roughly 0.4% of the oil giant\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.exxchange.com\/north-dakota\">reported<\/a> operations in the state, producing 158 million cubic feet of natural gas each day.<\/p>\n<p>The company launched the pilot program in January 2021 and is now reportedly considering expanding to Nigeria, Argentina, Guyana, and Germany in addition to launching a similar project in Alaska. Cointelegraph reported in February that oil and gas giant ConocoPhillips was running a program selling excess gas to third-party BTC miners for fuel.<\/p>\n<p>Transporting natural gas requires pipelines which cannot always safely accommodate the amount produced. Companies are often forced to burn off any excess gas or vent it into the air, ultimately harming the environment and the firms\u2019 profit margins. <\/p>\n<p>\u201cIt is creating use of what would be otherwise wasted,\u201d said Danielle Fugere, president of environmental shareholder advocacy group As You Sow, referring to the energy being diverted to Bitcoin miners.<\/p>\n<p>According to a report from Argus <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a>, Crusoe Energy <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.argusmedia.com\/en\/news\/2261931-bitcoin-miners-help-us-oil-producers-cut-flaring\" data-amp=\"https:\/\/www-argusmedia-com.cdn.ampproject.org\/c\/s\/www.argusmedia.com\/en\/news\/2261931-bitcoin-miners-help-us-oil-producers-cut-flaring?amp=1\">operated<\/a> 60 data centers for crypto mining across four U.S. states as of September 2021 powered by \u201cgas from the oil wells that would otherwise be flared on site.\u201d Instead of burning off the gas, diverting it to crypto mining reportedly reduces carbon dioxide-equivalent emissions \u201cby as much as 63%.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">3\/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CoinSharesCo?ref_src=twsrc%5Etfw\">@CoinSharesCo<\/a> estimates that 69 TWh of wasted power in the U.S. is lost annually to flaring<\/p>\n<p>Through <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> mining data centers, like those provided by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CrusoeEnergy?ref_src=twsrc%5Etfw\">@CrusoeEnergy<\/a> &amp; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/upstreamdatainc?ref_src=twsrc%5Etfw\">@upstreamdatainc<\/a>, wasted flared energy can be repurposed but it can also reduce CO2 emissions. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/2XjeFynrI7\">pic.twitter.com\/2XjeFynrI7<\/a><\/p>\n<p>\u2014 Messari (@MessariCrypto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MessariCrypto\/status\/1500492848663306244?ref_src=twsrc%5Etfw\">March 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<strong><em>Related: <\/em><\/strong><strong><em>Stranded no more? Bitcoin miners could help solve Big Oil&#8217;s gas problem<\/em><\/strong><\/p>\n<p>Though the Bakken shale basin in North Dakota is a major source of natural gas for the United States, Texas is also home to many oil and gas companies in addition to crypto mining firms seeing the potential for energy production in the state. In contrast, New York lawmakers have proposed suspending proof-of-work mining powered by fossil fuels in response to critics citing environmental concerns. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/exxon-mobil-is-using-excess-natural-gas-to-power-crypto-mining-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Exxon Mobil is using excess natural gas to power crypto mining: Report &#8220; United States-based energy producer Exxon Mobil has reportedly been running a pilot program aimed at using the energy from excess gas to power crypto mining rigs \u2014 and it may be expanding its operations to four other countries. In a Thursday&#8230;<\/p>\n","protected":false},"author":1,"featured_media":421070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvZjBmNTNiYTUtMjU3NS00ZTU3LWJiOTMtODU0NjY2MzY0YzBhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74863,75042,117,67874],"class_list":["post-421069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-cryptocurrencies","tag-mining","tag-business","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/421069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=421069"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/421069\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/421070"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=421069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=421069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=421069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}