{"id":464481,"date":"2022-06-17T19:15:37","date_gmt":"2022-06-17T16:15:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/russia-seems-to-be-preparing-to-mine-bitcoin-with-flare-gas\/"},"modified":"2022-06-17T19:15:37","modified_gmt":"2022-06-17T16:15:37","slug":"russia-seems-to-be-preparing-to-mine-bitcoin-with-flare-gas","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/russia-seems-to-be-preparing-to-mine-bitcoin-with-flare-gas\/","title":{"rendered":"# Russia seems to be preparing to mine Bitcoin with flare gas"},"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-6a4e07fa9e03e\" 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-6a4e07fa9e03e\" 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\/russia-seems-to-be-preparing-to-mine-bitcoin-with-flare-gas\/#%E2%80%9D_Russia_seems_to_be_preparing_to_mine_Bitcoin_with_flare_gas_%E2%80%9C\" >&#8221; Russia seems to be preparing to mine Bitcoin with flare gas &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Russia_seems_to_be_preparing_to_mine_Bitcoin_with_flare_gas_%E2%80%9C\"><\/span>&#8221; Russia seems to be preparing to mine Bitcoin with flare gas &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvODhlMjQyYWItNmZmNy00NTEwLTg2NDgtMzcxYzFiN2NjMTEzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The Russian government continues to establish links with major players in the cryptocurrency mining industry despite staying skeptical about legalizing cryptocurrency trading and payments.<\/p>\n<p>Russia\u2019s state-owned gas giant Gazprom Neft has entered into a partnership with BitRiver, the largest crypto-mining colocation services supplier in Russia providing hosting services for major crypto mining operations.\u00a0Gazprom will provide BitRiver&#8217;s partner data centers with electricity generated from the associated petroleum gas, the companies officially <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gazprom-neft.ru\/press-center\/news\/gazprom_neft_i_bitriver_dogovorilis_o_razvitii_energoemkikh_tsentrov_obrabotki_dannykh\">announced<\/a> on June 16.<\/p>\n<p>As part of the collaboration, BitRiver will be developing a digital infrastructure based on the oil fields that Gazprom provides crypto mining services from the flare gas.<\/p>\n<p>Gazprom first deputy CEO Vadim Yakovlev emphasized that the business model of \u200b\u200bGazprom, itself, doesn\u2019t envision work with digital assets. The gas giant is rather aiming to optimize the use of energy resources ito enable renewable energy by enabling \u201cnew ways of beneficial use of associated petroleum gas,\u201d he noted, stating:<\/p>\n<blockquote><p>\u201cReducing our carbon footprint is an essential component of Gazprom Neft&#8217;s ESG policy. [&#8230;] By combining technologies and competencies with partners, we create the best industry practices for the efficient and environmentally friendly use of natural resources.\u201d<\/p><\/blockquote>\n<p>Gazprom is one of the largest oil and gas companies in Russia and also one of the biggest gas suppliers for the European Union. The oil giant was reportedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theguardian.com\/environment\/2019\/oct\/09\/revealed-20-firms-third-carbon-emissions\">ranked<\/a> as the world\u2019s third-largest producer of carbon emissions as of 2019.<\/p>\n<p>According to the announcement, flare gas-powered crypto mining projects are especially relevant when working in new oil fields that do not have any established gas transmission infrastructure. Another option is to set up such developments on remote oil fields in Siberian regions as such fields are associated with surplus electricity and unprofitable flare gas logistics.<\/p>\n<p>BitRiver founder and CEO Igor Runets noted that the new partnership with Gazprom is part of the company\u2019s ambitious plan to increase its total power capacity to 2 gigawatt in the next two years.<\/p>\n<p>The Russian government had previously\u00a0considered a project to mine Bitcoin\u00a0with associated petroleum gas in October 2021.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Gov&#8217;t says crypto miners consume 2% of total electricity in Russia<\/em><\/strong><\/p>\n<p>Russia is a major player in global energy markets as well as Bitcoin (BTC) mining. The country was the third largest BTC hash rate producer in the world as of August 2021, according to the Cambridge Bitcoin Electricity Consumption Index. According to the latest index update, Russia tumbled to the fifth spot as its BTC hash rate declined to 8.6 EH\/s in January 2022 from 13.6 EH\/s in August 2021.<\/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\/russia-seems-to-be-preparing-to-mine-bitcoin-with-flare-gas\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Russia seems to be preparing to mine Bitcoin with flare gas &#8220; The Russian government continues to establish links with major players in the cryptocurrency mining industry despite staying skeptical about legalizing cryptocurrency trading and payments. Russia\u2019s state-owned gas giant Gazprom Neft has entered into a partnership with BitRiver, the largest crypto-mining colocation services&#8230;<\/p>\n","protected":false},"author":1,"featured_media":464482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvODhlMjQyYWItNmZmNy00NTEwLTg2NDgtMzcxYzFiN2NjMTEzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74863,74871,90652,75042,74355,117,70752,70934,4975],"class_list":["post-464481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-cryptocurrencies","tag-electricity","tag-greenergy","tag-mining","tag-adoption","tag-business","tag-energy","tag-regulation","tag-russia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464481","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=464481"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464481\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/464482"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=464481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=464481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=464481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}