Governments and environmentalists are quick to criticize the amount of electricity Bitcoin mining uses, but investors’ growing interest in crypto is leading to positive steps in the energy sector. The blockchain industry’s impact on the energy sector has been a major source of controversy over the past five years. Governments and environmental protection advocates have…
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Canadian oil and gas miner Bengal Energy, is set to begin its trial project of accessing formerly “stranded” gas wells with portable Bitcoin mining rigs. Canadian oil and gas company Bengal Energy, is dipping its toes into Bitcoin (BTC) mining as a way of utilizing the untapped energy from its gas wells in the far…
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The oil and gas giant launched the pilot program in January 2021 and is now reportedly considering expanding it to Nigeria, Argentina, Guyana, and Germany. United States-based energy producer Exxon Mobil has reportedly been running a pilot program aimed at using the energy from excess gas to power crypto mining rigs — and it may…
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Can Bitcoin mining be part of the solution for greenhouse emissions rather than part of the problem? The energy usage and environmental impact of Bitcoin (BTC) mining have been frowned upon and been under the scanner by various international financial institutions. The International Monetary Fund (IMF) mentions how Bitcoin mining consumes “vast amounts of computing…
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Russian authorities continue to show increasing interest in cryptocurrencies as Bitcoin nears a new all-time high. The Russian government is considering a new project to mine Bitcoin (BTC) with associated petroleum gas. Vasiliy Shpak, Deputy Minister of Industry and Trade of Russia, has reportedly filed a proposal with the Russian central bank and the Ministry of…
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Gazprom Neft’s aviation refueling subsidiary has piloted a blockchain-based refueling payment project to automate and accelerate transactions. Russian oil firm Gazprom Neft’s aviation subsidiary — Gazpromneft-Aero — announced Monday that it has completed a successful pilot of its blockchain-based refueling project, Smart Fuel. The new platform was implemented for more than 100 scheduled flights of Russian…
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