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Converting polluting gas into green bitcoins – ConocoPhillips Virtuous Mining

From burning to mining, when ecology rhymes with economy – The endless debates about the ecological impact of bitcoin mining are about to close. Canada, Iceland, the United States and now russiamajor energy producers are beginning to understand the benefits of cryptocurrency mining. The ConocoPhillips company announcement is part of this dynamic. Decryption to follow.

When bitcoin mining goes green in the field.

The company specializing in the extraction, transportation and processing of oil has just carried out a much talked about ad to CNBC media. i know phillips decided to use natural gas – that until now was wasted – to mine bitcoin. the oil company based in Houston will work with Crusoe Energy System for this. This start-up is specialized in mobile energy production near facilities that have surplus. Travel with generators in containers, recover gas and produce energy. The project will take place in Bakken, North Dakota, near the Canadian border.

We do not yet know the name of the company that will bring back the bitcoin mining market. ConocoPhillips did not wish to communicate on this matter. This collaboration will be part of a more global approach by the major oil companies to reduce ecological impact of their activities.

ConocoPhillips now advertises mining bitcoin with its surplus natural gas instead of burning it.
Increasingly Virtuous Bitcoin Mining

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Fight against energy waste by mining cryptos

To understand the problems, certain points related to the oil industry must be clarified. oil and gas go together in warehouses, in variable proportions. When technically possible, companies use both resources for their activities. But most of the time they will just useonly one of the two. This is why everyone has in mind the image of torches, which burn non-stop under the setting sun in the landscapes of the Arabian Peninsula. Basically, we exploit the oil and burn the gas to get rid of it.

However, major companies have pledged to reduce burning to zero by 2030 in the United States. This in the framework of greenhouse gas protocol signed in 2001 by the main players in the sector. In fact, this combustion of “lost” gas represents a significant emission of greenhouse gases tight. Of course, the gas will still be burned to produce energy, but Crusoe Energy System claims that the release of gas into the atmosphere is reduced by 63%. Therefore, this will prevent a waste of energy resources and will make up a huge shortfall for all the companies involved in the project.

You didn’t know that the oil companies had the green hand ? Come on, we are not so naive and we are not going to give this industry the go-ahead so easily. climate warming will not be solved by this initiative, but even the greatest paths begin with a very small step, Master Shifu said. And the number of initiatives of this nature are multiplying in the crypto ecosystemto the delight of fans of Greta and Bitcoin.

Your teens’ latest argument just dropped! No, Bitcoin does not consume as much electricity as an entire country for speculation… Enough bullshit and make way for eco-responsible investment. Ideal to take your first steps, the Kucoin platform just waiting for you (affiliate link)

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