Bloomberg has reported that Exxon is now mining bitcoin with excess gas which will not only increase revenues but also help the environment.
Exxon Mobil, the largest U.S. oil company, is considering expanding its bitcoin mining pilot programme in North Dakota to minimise the amount of natural gas it burns off or flares into the atmosphere, according to Bloomberg.
According to those familiar with the situation, the oil company has a deal with Crusoe Energy Systems to divert gas from an oil well pad that would otherwise be squandered to mobile bitcoin mines. The trial project began in January 2021 in North Dakota's Bakken and was expanded in July, according to the report; it now consumes up to 18 million cubic feet of gas per month that Exxon couldn't otherwise monetize.
According to Bloomberg, Exxon is investigating similar experimental projects in Alaska, Nigeria's Qua Iboe Terminal, Argentina's Vaca Muerta shale resource, Guyana, and Germany.
"We continuously evaluate...
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