Excess natural gas is used for BTC-mining
In Maskat city (Oman) is going to start a project that can allow to use the excess natural gas for crypto mining. The founder is Crusoe Energy which is specialized in such operations.
The Head of Crusoe Chase Lochmiller said that it’s very important to be represented in the Middle East and northern Africa regions because in these locations is burned above 38% of the whole quantity of the excess natural gas from the oil wells.
The pilot project is expected to be launched till the end of 2022 or in the beginning of 2023. Chase Lochmiller admitted that the situation at the crypto market definitely involves the income but it can’t change the plans of growth and wideness.
The government of Oman signed a contract with the World Bank to stop the flare burning till 2030 and invested in Crusoe. In April Oman increased its share in the company adding $505 millions.
According to the Paris climate agreement Oman is committed to reducing greenhouse gas emissions. Any case, a lot of discussions are held for finding a way of mining which will be absolutely safe for the environment. When the goal is achieved many bitcoin opponents, probably, may change their mind and become more loyal to the crypto field and blockchain helping them to become the strong part of the financial system.