Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Crypto News

Exxon Is Reportedly Running A Pilot Program To Divert Gas It Has No Use For To Power Crypto Mining Operations.

A logo sits illuminated outside the Exxon Mobil Corp. corporate pavilion during the 21st World Petroleum Congress in Moscow, Russia, on Monday, June 16, 2014. Work between Texas-based Exxon, the world's largest oil company by market value, and state-run Rosneft on Sakhalin Island in Russias Far East provides a template for further exploration, especially in the Arctic's Kara Sea, Exxon Mobil Corp. Chief Executive Officer Rex Tillerson said at the World Petroleum Congress in Moscow today. Photographer: Andrey Rudakov/Bloomberg via Getty Images

Exxon is reportedly diverting some of the natural gas it has no use for to power crypto mining operations, with a pilot program in North Dakota.

The oil and gas behemoth has partnered with Crusoe Energy Systems to convert the gas into power mobile generators used for mining operations on-site, sources close to the project told Bloomberg.

The project launched in January of last year and the company is already looking to set up similar ones in Alaska, Nigeria, Argentina, Guyana and Germany, the publication also reported.

Projects like this one have been touted as a win-win situation. On one side, excess natural gas that would have been burned off via the flaring process is put to use and, on the other, energy-intensive crypto mining operations find a power source that would have been wasted otherwise.

Back in 2019, Crusoe Energy Systems got financing from big names including KCK Group and Winklevoss Capital to fund projects including a bitcoin mining facility using gas that would have been flared.

A report from October of last year indicated that Russian regulators were likewise considering the use of wasted flare gas for crypto mining.



Worldwide music and entertainment giant Warner Music Group (WMG) has joined forces with OpenSea to introduce dedicated landing pages for their artists. The WMG roster will...


Though the recent months haven’t been very good for the crypto industry, this could not deter some crypto investors from being bullish about this...


The down-trending market that took its resistance from $1.35134 on the 10th of September did not go too far before it begins to face...

Crypto News

Robinhood, a leading investment app, has rolled out its newest product — a crypto wallet that charges zero transaction fees to its users. For...