The United States Oil producing company Wesco Operating Co. is using the by-product of pumping crude oil (natural gas) to mine Bitcoins as reported by The Salt Lake Tribune.

  • The company pumps crude oil from 18 wells north of Moab, Utah, and was unable to send the by-product (gas) outside the factory due to a problem in the pipeline.
  • Instead of ‘wasting’ the gas by just burning it, the company now uses it to run electric generators which in turn power two mobile data centers that process Bitcoin transactions.

Related: Yahoo! Japan teams up with messaging app LINE to enable NFT trading

  • The company has partnered with EZ Blockchain, to acquire the Bitcoin miners. A company representative stated,

You eliminate the flare and burn [the gas] more efficiently. We reduced emissions and we put the gas to work, It’s a unique opportunity.

New to Crypto? Enroll in Cryptocurrency Course at Todayq Education

Share.

Comments are closed.

Copy link
Powered by Social Snap