June 22, 2024

Canadian gas companies use surplus raw materials to mine bitcoin

Natural gas companies in the Canadian province of Alberta have decided to use gas from gaspockets for mining bitcoin, instead of just going into the atmosphere

Currently, up to 500 cubic meters dailygas is used to mine the first cryptocurrency. This method solves the problems of gas companies in the utilization of such gas, prevents it from polluting the air, and makes gas companies profitable.


“Today I visited one of the gas companies,who are trying to use gas pockets to mine Bitcoin. Gas from such pockets is too expensive to put into the network, but Bitcoin mining solves the problems of thousands of gas well owners. They are lining up to use illiquid energy reserves,” wrote Francis Pouliot on the social network Twitter.

Note that earlier such gas was either released intoatmosphere that is harmful to the environment, or burned. But quite strict standards are set for gas burning, so the decision to extract cryptocurrencies using surplus natural gas is beneficial for everyone.

It was recently reported that the end of the rainy season in Sichuan is forcing Chinese miners to shut down equipment.