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Upstream Data harnesses methane from the oil industry to mine Bitcoin

Inspenet.

February 7, 2023

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Inspenet, February 7, 2023

The Canadian energy optimization company Upstream Data Inc, has designed an innovative way to reuse the waste generated by the oil and gas industry, to mine Bitcoin and mitigate the negative impact of CO ₂ emissions on the environment.

The company, founded in 2017, specializes in building data centers for Bitcoin mining, which are used mainly for the conservation of flared and vented natural gas, a wasted resource in oil exploitation areas.

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Since its founding, Upstream Data has deployed more than 300 data centers for Bitcoin mining in Canada and the United States. Recently, Upstream Data presented on its social networks a new data center and hash generator, called Hydro Hash, which has been put into operation in the province of Alberta, Canada, to recycle stranded natural gas in one of the areas with the highest oil production in this country.

This new Bitcoin mining data center is the first in the world to be water-cooled, according to Documenting Bitcoin.

These types of initiatives allow oil companies not only to reduce their emissions into the atmosphere, but also to monetize a product that they would otherwise be forced to waste.

Source : https://news.bit2me.com/una-compania-aprovecha-el-metano-de-la-industria-petrolera-para-minar-bitcoin

Photo : Upstream Data Inc

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