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Exxon Mobil is using excess natural gas to power crypto mining: Report

Published 03/24/2022, 06:00 PM
Updated 03/24/2022, 07:40 PM
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United States-based energy producer Exxon Mobil (NYSE:XOM) has reportedly been running a pilot program aimed at using the energy from excess gas to power crypto mining rigs — and it may be expanding its operations to four other countries.

In a Thursday report, Bloomberg said Exxon Mobil had inked a deal with Crusoe Energy to use excess gas from oil wells in North Dakota to run Bitcoin (BTC) miners. The project reportedly uses 18 million cubic feet of natural gas per month — roughly 0.4% of the oil giant’s reported operations in the state, producing 158 million cubic feet of natural gas each day.

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