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Executive summary: How The Shale Oil Boom And Flare Gas Could Transform Bitcoin Mining

The shale oil boom is also a boom of natural gas, which needs to be flared and can be used for Bitcoin mining. At scale, this could completely overhaul the economics of Bitcoin mining and I explore shale oil production and BTC mining can go hand in hand.
Executive summary: How The Shale Oil Boom And Flare Gas Could Transform Bitcoin Mining

Executive summary:

  • Oil prices boomed in the early 2000s, leading to an increase in production and investments that resulted in the shale oil boom.
  • A byproduct of shale oil production is natural gas, which needs to be flared. Bitcoin miners can make use of that.
  • BTC miners can utilize the generated electricity from flared gas. Some companies are already doing it.
  • Flared gas emissions are massive and not going away. Monetizing them with Bitcoin mining would be a sound economic strategy.
  • Substituting dirtier energy sources for mining from flared gas would make BTC mining more profitable and greener.
  • Even though politicians (falsely) consider proof-of-stake "greener," regulation could help drive miners towards flared gas.
  • Oil prices impact BTC only indirectly but are expected to stay rather high in the near future.
  • Shale oil production will probably rise throughout the next year.

Full article:

How the Shale Oil Boom and Flare Gas Could Transform Bitcoin Mining | CoinMarketCap
What if we used the energy from flared gas to produce electricity?