• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Trump Linked Firm Trims Stake in Major Crypto Venture, Big Sell-Off Ahead?
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Trump Linked Firm Trims Stake in Major Crypto Venture, Big Sell-Off Ahead?
Bitcoin BTC BTCUSD

How Exxon Mobil Mines Bitcoin With This Pilot Program, Plans To Expand It?

Reynaldo Marquez
by Reynaldo Marquez
3 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Exxon Mobil, the largest oil producer in the world, is mining Bitcoin. Per a Bloomberg report, the company is running a pilot program to leverage BTC mining using an excess of natural gas from their oil wells and to prevent a process known as flaring.

Related Reading | Breaking: Russia To Accept Bitcoin As Payment For Oil From “Allies”

Launched in North Dakota, this BTC mining program operates with cooperation from Crusoe Energy System, a company trying to “eliminate routine flaring of natural gas and reduce the cost of cloud computing”, according to their website.

The partners use the excess gas in the Bakken shale basin to run the Bitcoin mining equipment, Bloomberg quoted sources familiar with the matter. The program was launched last year, in January 2021, and saw an initial expansion in June.

There are around 18 million cubic feet of gas used each month to power this BTC mining operation. This gas is used to secure the Bitcoin network, support its global payment system, and produce more BTC, rather than being dumped into the environment.

Exxon Mobil’s program also showcases BTC’s capacity to make a transition from environmentally hurtful to sustainable. In its next phase of expansion, the program could be launched in Nigeria, Argentina, and Germany. Meltem Demirors, CoinShares COO, said:

So Bitcoin can actually solve energy infrastructure challenges while reducing emissions? without a single taxpayer dollar or government subsidy? imagine that! As a former energy person who worked Exxon Mobil – this is inevitable and will only grow.

Chase Lochmiller, Crusoe Energy CEO and Co-Founder said the following on BTC’s potential to provide the energy industry with alternatives and become cleaner:

It is exciting to see the industry rapidly evolving towards environmentally-oriented ways of thinking and operating. Bitcoin mining has historically been conflated with carbon emissions. We believe mining can be leveraged as a tool to help reduce emissions and also accelerate the energy transition, providing critical infrastructure for both the bitcoin network and the future of energy infrastructure.

How Bitcoin Can Contribute With A Greener Future

Data provided by Crusoe Energy estimate the amount of natural gas wasted via flaring per year can be used to power the entire continent of Africa. This could help meet the energy demand of Europe and other regions.

Bitcoin and its Proof-of-Work consensus mechanism are key at making this model sustainable, and attractive to companies like Exxon Mobil. Additional data provided by CoinShares via Messari indicates there are 69 TW/h of wasted power in the U.S. alone.

This energy is lost via flaring, Crusoe Energy and BTC mining can re-route this potential and use it to secure the network. This prevents large amounts of gas from contaminating the environment.

BTC detractors often speak about its energy consumption but fail to highlight its intrinsic value as a driver for models based on energy sustainability.

Bitcoin BTC BTCUSD
Source: Messari

Related Reading | Cheap Coins: Which Bitcoin Miners Enjoy The Best Electricity Pricing?

At the time of writing, BTC’s price trades at $43,800 with a 3.7% profit in the last 24-hours.

Bitcoin BTC BTCUSD
BTC with bullish momentum on the daily chart. Source: BTCUSD Tradingview
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Reynaldo Marquez

Reynaldo Marquez

Follow

As an editor at NewsBTC, Reynaldo is an experienced journalist passionate about all things crypto. Reynaldo has interviewed key industry leaders, and created unique pieces analyzing the promise of crypto as the next frontier for an economic and social transformation of humanity. Since 2018, he has been at the forefront of the industry, closely following every major development and analyzing critical events at the heart of the crypto industry. With a keen eye for detail and an unwavering commitment to excellence, Reynaldo has been instrumental in bringing the latest news and insights to the crypto community. Outside of work, Reynaldo enjoys lifting weights and literature, which he believes gives him a unique perspective into the world of crypto. As an aspiring trader, he is always looking for new opportunities to explore and believes that crypto holds the key to unlocking the future of finance.

Full Profile

Related Posts

Bitcoin

Bitcoin Weathers The Iran-Israel Storm Better Than Wall Street’s Best—Analyst

6 hours ago
Bitcoin

Strategy’s Michael Saylor Shrugs Off Lawsuit, Signals Next Bitcoin Acquisition

22 hours ago
Bitcoin

Texas Signs Strategic Bitcoin Reserve Into Law – Details

1 day ago
Bitcoin

Bitcoin Bears Take The Wheel — Why $94,000 May Be The Next Critical Zone

1 day ago
Bitcoin

Bitcoin Treasury Companies: A Double-Edged Sword For The Market – Here’s Why

1 day ago
Bitcoin

Bitcoin On-Chain Metrics Crash To Bear Market Levels Despite Price Sitting Close To ATH

2 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Cryptocurrencies have become the best way to invest as the...

    8 hours ago
  • Earn $3,777 a day: OPTO Miner cloud mining app now supports...

    8 hours ago
  • 【ETHRANSACTION Wealth Express】XRP surpasses DOGE! The...

    8 hours ago
  • Dogecoin (DOGE) holders get stable income at BJMining

    10 hours ago
  • Green Cloud Mining earns $3,777 a day: Helps you easily...

    12 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.