Communications of the ACM
Exxon Weighs Taking Gas-to-Bitcoin Pilot to Four Countries
Exxon Mobil is running a pilot program in North Dakota that uses excess natural gas to power cryptocurrency mining.
Credit: Gerd Altmann/Pixabay
A pilot program launched by Exxon Mobil Corp., which has not been announced publicly, involves powering cryptocurrency-mining operations using excess natural gas that otherwise would be burned off from oil wells in North Dakota.
Sources said Exxon forged an agreement with Crusoe Energy Systems Inc. to use gas from an oil well pad in the Bakken shale basin to power mobile generators used to run on-site Bitcoin mining servers.
The pilot project, which began in January 2021, uses as much as 18 million cubic feet of gas per month that otherwise would have been burned off due to a lack of pipelines.
The sources indicated Exxon is considering similar programs in Alaska, the Qua Iboe Terminal in Nigeria, Argentina's Vaca Muerta shale field, Guyana, and Germany.
From Bloomberg
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