While a number of media pundits and politicians have been talking about Bitcoin’s energy consumption, there’s been a myriad of firms working toward green solutions well before all the controversy. Unfortunately, critics don’t highlight the amount of renewables miners use or the cogeneration applications. One project called EZ Blockchain has partnered with the Texas-based oil and gas service provider, Silver Energy to monetize wasted natural gas with bitcoin, while reducing emissions.
Monetizing Stranded Gas and Reducing Emissions With Bitcoin
A firm called EZ Blockchain recently detailed that the company has partnered with Silver Energy, an oil and gas provider based in Texas. According to the firm, the team installed Silver Energy’s first mining site at the company’s Alberta, Canada location in February 2021.
After the installation of Microbt Whatsminers, EZ Blockchain said that the project reached around 1 megawatt of power consumption. All of the power is “processed from 250 MCFd of stranded natural gas using a gas-electric generator,”