ConocoPhillips is a known Bitcoin mining farming organization. The company recently decided to stop the process of flaring and outsource the excess gas to the Bitcoin mining organization. Flaring is a process that oil rigs use to discard the harmful gases that are created during the process. However, the process generates a considerable amount of environmental pollution.
However, recently a spokesperson from ConocoPhillips claimed that the company is planning to sell the excess gases to a third-party Bitcoin mining corporation. The Bitcoin mining rig in question will be able to use the gas as a fuel and prevent the generation of additional carbon footprint. A spokesperson from ConocoPhillips told the media that it is part of the initiative to get rid of flaring before 2030.
According to the latest reports, there are a considerable amount of oil mining organizations in the country that are opting to get rid of excess gases with the help of burning or flaring. These oil rigs collect the additional gases in a container, and these gases are toxic for the living creatures. However, with the process of flaring, these gases can be broken down into less harmful components.
On the other hand, the process of flaring requires a lot of resources and also generates a harmful impact on the environment. This is where Bitcoin mining rigs can come in handy. The Bitcoin miners can use the excess gases as a means of fuel and power up their computation devices. In this manner, the harm to the environment is reduced.
ConocoPhillips is not the only company that has opted to sell the excess gases to the Bitcoin miners. Another oil and petrochemical rig called Crusoe Energy is following the same path. A recent report by Argus Media shows that the Crusoe Energy management is planning to reduce carbon waste by 63% in the upcoming year.
The best way to make it possible is to stop the flaring process as much as possible. Bitcoin Mining Council recently reported that around 58.5% of all digital mining enterprises have switched to green or reusable energy resources. There are some miners in Norway that have shown the use of heat generated from mining to dry lumber.