Bitcoin Mining With Flared Gas

bitcoin mining with flared gas is the process of capturing the energy from flared gas in oil fields and use it to "mine" bitcoin. flaring is typically carried out in oil fields in remote locations, where export pipelines are limited, and when it is not economical to reinject the gas into the oil reservoir to increase oil production. flaring gas wastes energy and emits carbon dioxide. it is estimated that approximately 148 billion cubic meters (bcm) or approximately 5 trillion cubic feet (tcf) of gas was flared globally in 2020. russia, iraq, iran, the united states, algeria, venezuela and nigeria remain the top seven gas flaring countries for the past nine years running. (source: the world bank gas flaring tracker report) by selling the flared natural gas to a 3rd party bitcoin miner, the oil & gas company can: • create an additional revenue stream where they were previously flaring the gas and making $0.00 dollars. • reduce the oil company’s permitted flaring emissions and its dir