$120B Oil and Gas Giant ConocoPhillips Joins The Bitcoin Mining Fuel Business ⋆ ZyCrypto - BitcoinEthereumNews.com
विज्ञापन ConocoPhillips, one of the worlds largest independent oil and gas exploration companies is utilizing its extra gas to power Bitcoin mining. According to a Tuesday report by CNBC, the company disclosed that it is currently runing a pilot project in Bakken, an oil-rich region in North Dakota where it had been selling excess gas to a third party Bitcoin miner, instead of burning it off. According to a representative from the firm, the decision to dive into the Bitcoin business was in line with the companys objectives to reduce and ultimately eliminate routine flaring “as soon as possible, and no later than 2030”. The company which operates in 14 countries has published various reports explaining its intention to tackle the emission problem caused by routine flaring in the “Lower 48” states, of which Bakken falls. It has also expressed a deep interest in partnering with technologies that potentially provide a solution to the incessant problem of carbon emissions. Although the company did not disclose the bitcoin miner behind the business deal nor the terms of the Pilot project, it finds itself extremely lucky to have co-located a Bitcoin mine close to its facility. Oil and gas production companies have often been forced to burn