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.
- 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.
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