A large torch ignites from a gas well.

Black Mountain Energy Investigating Bitcoin Mining at Targeted Kimberley Cracking Site

A US-owned resource company hopes to use “flare” gas from fracking wells to mine cryptocurrency in a process it says will reduce emissions.

Black Mountain Energy revealed the plan in a statement to ASX last week, which will see methane, a by-product of fracking, and crypto-powered servers.

The company is studying options to roll out the project at the fracking site at the Valhalla Project in the Canning Basin in Kimberley in collaboration with Wyoming startup Highwire Energy.

Cryptocurrency mining uses computer servers to resolve cryptographic algorithms, which validate transactions and maintain a shared record of transactions. The so-called miners are automatically rewarded with a portion of the digital currency.

Flaring is a process in which excess natural gases are burned during or after the resource extraction process.

A company that promotes benefits

In an interview with the financial website, The Market Herald, Black Mountain Energy CEO Rhett Bennett said the project will use gas left over from fracking to power the servers.

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