Energy giant ConocoPhillips to use excess natural gas to power bitcoin mining operations

time:2022-02-16 07:00 source:Internet

Oil and gas exploration and production giant ConocoPhillips (COP) is pumping excess natural gas from a project in its Bakken, North Dakota, region to provide the necessary electricity for bitcoin mining operations. A ConocoPhillips spokesperson said, “ConocoPhillips currently has a Bitcoin pilot project in the Bakken, where gas that would otherwise be flared is routed to a Bitcoin processor owned and managed by a third party.” ConocoPhillips management recently stated that The company is committed to further reducing methane emissions and achieving a "zero conventional flaring goal" by 2025, it said on a conference call.

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