When a company drills for oil, it often doesn’t just find an oil well that can be tapped into. There is usually an abundance of trapped natural gas that accompanies the oil. However, in most instances, it is not economical to capture this natural gas as, unlike oil, which can be packed in barrels and transported across the world, natural gas requires a pipeline. [...]
But instead of using it, oil companies around the world are burning it off. They burn it instead of letting it vent as natural gas is methane-rich, a greenhouse gas 80 times more detrimental to the environment than carbon dioxide over a 20-year time frame. [...]
But what if there was now a way to put all this wasted natural gas to good use? What if we could end flaring once and for all while creating economic value? Enter Bitcoin mining.