Oil major Exxon Mobil (XOM) is working on a pilot project to use exhaust gas from its North Dakota oil wells to power bitcoin mining operations, according to reports from people familiar with the matter. The project was launched in January last year, and ExxonMobil is already looking to build similar projects in Alaska, Nigeria, Argentina, Guyana, and Germany. Due to the lack of adequate pipeline infrastructure, much of the idle natural gas is burned causing wasted energy. The company is entering into a partnership agreement with Creusot, one of the pioneers in using exhaust gas to power bitcoin mining operations, to convert natural gas into mobile generators for on-site mining operations.
Nowadays, the energy consumption of cryptocurrency mining has always been a problem that the world is concerned about. If there is a more energy-saving or more environmentally friendly way, it will be more conducive to the development of cryptocurrency.
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