Companies use excess Middle East gas for BITCOIN (BTC) mining

U.S. firm Crusoe Energue, which specializes in using surplus natural gas for Bitcoin BTC mining, will soon begin deploying generators and equipment to collect the flared gas in Muscat, the capital of Oman. Crusoe CEO Chase Lochmiller commented that the company considers its presence in the Middle East and North Africa region important because that location accounts for 38% of global excess natural gas flaring from oil wells.

📌 It is expected that the pilot project for the first deployment in the Middle East will be launched by the end of the year or at the beginning of 2023. Lochmiller said that while the state of the financial markets and Bitcoin BTC “certainly has some impact on the overall revenue, it will not affect growth and expansion plans.”

🔺 It is reported that the government of Oman signed an agreement with the World Bank to end flaring by 2030 and invested in Crusoe last year. In April of this year, Oman increased his stake in the company by investing $505 million.

☝️Oman is committed to reducing greenhouse gas emissions in accordance with the Paris Climate Agreement, said Ismail Ibrahim Al-Kharti, technology investment manager at Oman Investment Authorit.

If you like to read such articles and want to support the author, then you can subscribe to our telegram channel and recommend us to your friends, this will help a lot to support our project! Telegram: CRYPTO WIKIES | Bitcoin & Altcoins Mining
Be the first to know all the news, read more about cryptocurrencies and mining at CRYPTO-MINING.BLOG.

What awaits Bitcoin after the 2024 halving?
The popular crypto analyst shared his vision of the development of the situation in the Bitcoin market ahead of the expected halving in April 2024. According to his analysis, the movement of the first cryptocurrency after the reduction of miners’ remuneration traditionally falls into four characteristic phases. In his opinion, if we focus on updated…
How to create, use Kaspa Wallet
Kaspa wallet is known for its user-friendliness, reliability, and high-level security features. The wallet has been built on the Bitcore platform with many lines of security such as 2-factor authentication, multi-sig support, and hardware wallet support to support digital assets stored in it. The wallet is also applauded for its smooth user interface, which makes…
BTCTools v1.3.1: Download, ip-scanner, overclocking for Windows
BTC Tools is a tool to scan, configure, reboot and update most Antminer, WhatsMiner, Innosilicon or Avalon ASICs. The utility includes ip address scanner, monitoring, batch management of overclocking of miners.