EZ Blockchain just announced that it has teamed with Silver Energy, a Texas-based oil and gas company. According to the corporation, the team established Silver Energy first mining site in February 2021 at the company’s Alberta, Canada location. According to EZ Blockchain, the project consumed roughly 1 megawatt of power after the Microbt Whatsminers were installed.
The company’s blog post stated, “All of the power is processed from 250 MCFd of stranded natural gas utilising a gas-electric generator.” CEO and co-founder of EZ Blockchain, Sergii Gerasymovych, said, “Today oil and gas producers are implementing Bitcoin mining in the oil field as a part of their ESG policy more often.”
Natural gas is a byproduct of oil extraction, and oil companies must either flare or utilize it in another manner. The World Bank reports 5.3 trillion cubic feet of natural gas is flared into the sky each year. The manufacturing production line at EZ Blockchain creates transportable data centers that serve as flare mitigation systems. The Silver Energy project, according to the business, took three days to build and was fully operating by March 2021.
According to the EZ Blockchain website, the company has grown significantly since its inception in 2017 and currently has offices in Chicago, Los Angeles, and Estonia. EZ Blockchain has produced and deployed 35 megawatts of power, with another 20 megawatts in the pipeline. The company isn’t the only one making mobile bitcoin mining data centers; Upstream Data, a Canadian startup, also provides stranded gas solutions. Crusoe Energy Systems, a company situated in the United States, also includes crypto mining services to oil and gas companies.