Oil and gas giant ConocoPhillips began selling associated gas to miners

Oil and gas giant ConocoPhillips has indirectly entered the bitcoin mining sector.

The company has launchedbitcoin pilot project in Bakken, North Dakota, which sells natural gas that was previously flared as a by-product to a bitcoin mining farm.

The Bakken is home to one of the largest oil and natural gas fields in the US, making North Dakota the second most oil-producing state in the country, behind only Texas.

A new initiative by ConocoPhillips is helping to achieve the goal of phasing out the regular burning of natural gas that is generated when oil is drilled at production sites.

According to a study conducted by the companyDenver-based Crusoe Energy Systems, through its ConocoPhillips pilot project, is monetizing a previously wasted resource and reducing its environmental footprint. Miners, in turn, get a cheap source of energy to mine BTC.

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