Bitcoin miners & oil producers eye possible cooperation
Potential alliance would benefit both parties and, better yet, the environment
Oil producers and Bitcoin Miners met in Houston, Texas, to talk about a possible cooperation between the industries. The benefit for both parties would be economical as well as resourceful, and as a bonus it would help the environment.
The partnership would allow the oil producers to manage their resources in a more effective way because some oil wells burn their natural gas pockets on site when they are smaller and don't build pipelines into the producer’s operations.
When cooperating with Bitcoin miners, that gas wouldn’t be wasted. The natural gas that otherwise would be burned as flare gas, could instead be used to feed micro mining operations in each well by its power generators.
This alliance would maybe help the situation of miners and their ongoing relocation from China since the country prohibited mining in many of their regions. It is an incentive and an initiative that would help both parties and above all the environment - that is the most damaged with gas release into the atmosphere.