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Did you know that Bitcoin mining is helping to clean up the environment through its use of stranded natural gas to power the network? When drilling for oil, natural gas is released as a byproduct of the drilling. Natural gas pipelines are built out to the oil fields to provide a way to sell that gas to the energy market. However, when natural gas is stranded, that is, located far from any pipeline infrastructure, oil fields are forced to burn this excess gas in a process known as flaring, in order to prevent it from escaping into the atmosphere as methane emissions.
For, according to the EPA, methane is more than 25 times as potent as carbon dioxide at trapping heat, and the latest statistics show that flaring is only 91% effective in reducing these methane emissions. Enter stranded gas Bitcoin mining. By bringing a generator and a simple data box of computers out to the wellhead, miners transform what was formerly a waste product into power for securing the network and releasing new coins. In fact, there is currently enough stranded gas around the world to power the Bitcoin network seven times over.
By utilizing this resource at its source, gas that is currently being leaked into the atmosphere can be captured and put at the service of securing a decentralized global monetary network, providing property rights to billions of unbanked persons around the globe. Through its location agnostic ability to seek out and soak up stranded energy resources, Bitcoin mining brings industry to isolated regions, removes the need for costly and less effective mitigation measures like flaring, and transforms a waste product into digital monetary energy, all while cleaning up the environment in the process. .