Select Page

One of North America’s Biggest Miners Harnesses Flare Gas Energy

One of North America’s Biggest Miners Harnesses Flare Gas Energy
Loading...
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Amid the ongoing debate surrounding the environmental impact of bitcoin (BTC) mining, light has fallen on Denver-based operation Crusoe Energy. A company that uses energy from flare gas to mine BTC.

Reports indicate that, in harnessing flare gas energy, Crusoe Energy has cut carbon dioxide emissions by well over half. Otherwise, equated as removing approximately 1,700 cars from the road.

Crusoe Energy installs piping systems to divert natural gas into generators, which in turn power the BTC mining operation. Oil companies would ordinarily burn off (or flare) the natural gas, when finding it incidentally at oil drilling sites. Since the company’s inception, its efforts have led to a 1 billion cubic feet reduction in flaring.

With units now in multiple states, including its headquarters state Colorado, as well as Montana and North Dakota, Crusoe is now regarded one of the largest BTC mining operations in North America. Helped along by a multimillion-dollar Series B financing round back in April.

The company closed with a $128 million investment, with Valor Equity Systems at the head. Coinbase Ventures and Winklevoss Capital were also among the participants.

Mining with alternative energy sources

One of the biggest turn-ups for BTC this year is El Salvador’s decision to adopt it as legal tender. The first country in the world to do so. The bill passed on June 9, after a majority congressional vote of 62 in favor out of 84.

Immediately following this decision, the country’s president, Nayib Bukele, revealed plans to harness volcanic energy to mine BTC. El Salvador currently has around 20 active volcanoes.

President Bukele tweeted:

“I’ve just instructed the president of @LaGeoSV [LaGeo] (our state-owned geothermal electric company), to put up a plan to offer facilities for #Bitcoin mining with very cheap, 100% clean, 100% renewable, 0 emissions energy from our volcanos.”

The President followed up shortly afterwards, confirming that engineers had dug a new well, which would provide around 95MW of clean geothermal energy from El Salvador’s volcanoes.

Loading...

The crypto mining environmental row

The environmental implications of BTC mining has been a subject of furious debate this year so far, with many nations cracking down on their respective operations. China, once a center for the world’s BTC mining, is now undertaking a systematic, nationwide ban. The city of Ya’an is the latest to face the prohibition. Officials announced Ya’an mining farms, which accounted for around 10% of the world’s BTC mining operations, would cease.

Meanwhile, the row surrounding crypto’s impact on the environment has also led to some controversial decisions. Such as those made by Elon Musk back in May. The Tesla CEO shocked many by suspending BTC as a payment option for vehicle purchases. 

The billionaire has since stated that Tesla will allow BTC transactions again, as soon as “there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend.”

The post One of North America’s Biggest Miners Harnesses Flare Gas Energy appeared first on BeInCrypto.

 

Source: BeInCrypto

 


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.es here

Loading...

Categories

Select Sub Category
category
61060649b1163
1
1
Loading....

Reviews

All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber