What you will learn:
- What flare gas is, how Bitcoin is mined with it, and the consequences thereof.
- 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.