Oil Field Alchemy: How Bitcoin Can Turn Waste, Emissions into Proof-of-Work38

In a handful of oil fields in the Great White North, natural gas, an otherwise wasted drilling by-product, is being put to work. But it’s not being used to well more oil; it’s being used to mine bitcoin.

“Bitcoin’s a great arbitrage mechanism for these companies. Anywhere you go, oil and gas producers are having issues,” Steve Barbour, founder of Canadian company Upstream Data, told Bitcoin Magazine.

Original source

Add comment

Please Sign in to be able to leave comments.