Mining firms in the US are innovating a new way to save Renewable Energy to produce the next block.
Mining firms in the US confirmed that they can produce energy through oil patches and can save renewable sources of energy for further use.
Crusoe Energy, Colorado-based firm is re-producing energy from flare gas at oil patches and further they are using the produced energy in Bitcoin mining.
Flare is a process of burning the gas which is hard to Handle by the drilling companies easily.
Flare is just burning the garbage. But here Cruise Energy claims that they can flare the oil patches with very high efficiency.
They can reduce CO2 equivalent emission by 63% easily. And each flare cycle process efficiency to reduce the harmful emission is equal to taking 1700 cars off the road.
Firm installed a pipe system to divert the natural gas away from the flares and into generators. which in turn produce electricity which is used in power generation.
And that power is used for Bitcoin mining hardware.
“We pay the operator for the gas that we use in our generators, providing them with an incremental revenue stream where they were previously flaring the gas for zero,”www.crusoeenergy.com
This firm is getting popular and also this firm is now the biggest firm in North America.
This firm installed their system in North Dakota, Colorado, and Montana, among other states.
Here is one biggest thing we can see in the Mining industry, most of the mining firms are not only looking for a more favourable situation for mining but also they are innovating to generate renewable energy and environment friendly ideas to use in mining.
And this matter of green energy and renewable sources of energy use in Bitcoin mining is on trend after Elon Musk tweet about Bitcoin being suspended as a payment option.