This is the same company that recently partnered with ExxonMobil with the same goal of putting into productivity a good amount of excess gas that would otherwise just be wastefully burned off. It seems they're making significant success in this venture. But the potential is still huge. After all, there's still so much wasted gas out there. Year after year, at least a hundred billion cubic meters of gas is just wastefully flared.

This is apparently good news but this is not turning green. So this doesn't go along with the goal of reaching 100% green energy for Bitcoin mining.

I remember reading that Musk and Dorsey were planning green bitcoin mining together. Also, Tesla was supposed to start accepting bitcoin again when it starts using 50% clean energy so that would play into the narrative. They mine green bitcoin and accept bitcoin for their cars again.

The number of these green mining plants is going to go up because it's "socially acceptable". They want to appease the dumb crowd who was told that Bitcoin is bad because it's not mined with solar power, but banks who don't use solar power are good and diesel engines are good to, because you have a bank account and your neighbor has a diesel truck, so you can't do anything about it, but hey, at least you can hate bitcoin!

IMO this whole Bitcoin is bad for the environment narrative is meant to slow down its progress. There's not much real science behind it, but there are CBDCs in development so slowing down bitcoin is in the interest of big banks.

I think this news is related to news about "Oman backs US-based Crusoe Energy 2022 bitcoin mining pilot project"
for more complete news please visit the following sources may be useful: https://www.cryptopolitan.com/oman-backs-crusoe-2022-btc-mining-project/.

This news is very interesting and also great news for bitcoin miners.

Elon Musk is a clawn, how is Tesla so important that he did not want to accept bitcoin, bitcoin did not depend on a single person or a single country. Tesla do not have to accept bitcoin after Elon Musk propaganda to accept doge.

Yes, that is true, miners are going towards green energy, leaving the other industries to their carbon producing energies. Solar is not the only green energy. Energy derived from wind, nuclear and renewable energies like well constructed hydroelectric power plant are all green energy.

Are the fuel prices in America also affecting the electricity prices in many areas of the country? I reckon for bitcoin miners and energy companies that want to provide electricity for bitcoin miners, it will certainly be cheaper to move out of America and bring their farms somewhere with a government that will be more accomodating and where there are cheaper sources of electricity.

The Biden administration might begin to make profitability very difficult for miners in America.



The Biden administration is teeing up policy recommendations to lower cryptocurrency mining’s energy consumption and emissions footprint, marking its first major foray into a poorly understood industry that critics say threatens U.S. climate goals and strains the power grid.

“It’s important, if this is going to be part of our financial system in any meaningful way, that it’s developed responsibly and minimizes total emissions,” Costa Samaras, principal assistant director for energy for the White House Office of Science and Technology Policy, told Bloomberg Law.

“When we think about digital assets, it has to be a climate and energy conversation,” Samaras said.

The report, expected in August, could be one of the first studies following President Joe Biden’s executive order in March pressing federal agencies to ensure the “responsible” mining of digital assets such as cryptocurrency.

Source https://news.bloomberglaw.com/environment-and-energy/crypto-miners-energy-climate-costs-draw-white-house-scrutiny

1.Natural gas is more eco-friendly than oil.
2.What the hell are you talking about? Gas flaring has nothing to do with Europe, because Europe doesn't have big gas production. This technology can applied only in the countries, that are extracting lots of natural gas.


Heating homes in Oman seems like a weird idea, because the weather in Oman isn't that cold.
Anyway, I don't mind this technology, but I don't know about the exact price of the energy, that is going to be produced by utilizing wasted gas.
Is it going to be cheap enough to make crypto mining profitable in Oman? Oman is a country with pretty high temperatures, wouldn't the crypto mining facilities require lots of cooling(which will eventually make the mining process expensive and ineffective)?

Well millions and millions of cars, generators, other commutes are running on the oil that is escalated from the earth crust, how do we supposed to expect the oil companies even bother about environmentalist. They would keep doing what they are doing because the whole process is shown as regulated, being done with proper documentation and every aspect of mining also checked properly. Definitely it's all about the money and we know very well its dangerous for earth anyways.

Now, the fact that bitcoin mining needs to be greener is little off the frame. I mean it's funny no one is talking about 100% use of electric cars whose being charged on naturally produced energy, but they do talk about bitcoin mining because out of no where it's the reason for green house effect.

Its odd, really odd.

There's probably no other competition among Bitcoin miners except the one in which miners are competing against each other in solving the problem. So that's only computation competition. I don't think there is this level of competition in their business operations.

Even though other mining farms are not using stranded gas supply, it could still be possible that their energy cost is not really that more expensive compared to excess energy sources. Energy blocks could be accessed in negotiated prices.

to clarify.. this is a pilot project at ONE well site using flared gas. its not a massive project. and its not all dreamy hype. its a small facility.

the 'flared' gas is flared for a reason. its not good quality gas and the cost to try to 'pipe' it into the network is expensive. so thats why its never used commercially before. so dont expect big things from this.

its more like deliver a shipping container of asics to the well so that they can mine at the well site. thus save on having to pipe the gas off-site to a central mining farm connected to many wells.

it will be more like lots of micro farms(shipping containers) dotted across the land which then connect to a pool. rather than a large mining warehouse facility getting energy from the grid.

its a novel approach. but as the article says, its a pilot project to see if it can work and see what can be generated to see how cost feasible it is to replicate at each well site.

..
the optional way of viewing this is .. instead of a pipe sticking out of the ground with a flame bursting out the top and smoke billowing above it. instead at the top of the pipe will be an engine that turns a turbine. and that produces electric which powers asics. and this then affords the company to then put filters and exhausts on the outlet so that there is little/no smoke coming out at the end.

this is not to give oil companies a large BTC investment to hoard and profit from long term from running large mining farms. its more to do with mining small amounts using small micro farms per well-site. to cover the cost of the exhaust filtration.

yep the reason they dont put an exhaust and filter system on the top of a flare pipe before is cost. and its too costly to pipe the gas out of the area to the gas network. so by earning money onsite. then pays for the equipment needed onsite to clean the fumes from the burning of gas

I disagree with you.... if it is simply flared with no use, it will be a waste of energy ....but now that energy is used for something and less electricity is spend that are generated from "dirty" resources. (Eg Coal burning) 

Anything that generated electricity or has the potential to generate energy, without being used... is simply a waste. If you use that energy that would have been wasted, you save the planet. (because you are not using something else to get that electricity)