ExxonMobil plans to use idle natural gas to power bitcoin mining

Oil giant Exxon Mobil (XOM) is working on a pilot project to use exhaust gas from its North Dakota oil wells to power bitcoin mining operations. Bloomberg reported on Thursday, citing people familiar with the matter. The project was launched in January last year, and ExxonMobil is already looking to build similar projects in Alaska, Nigeria, Argentina, Guyana, and Germany. Lack of adequate pipeline infrastructure leaves much of the idle natural gas flaring and wasting energy. Bloomberg said, citing unnamed sources, that the company is working on a partnership with Creusot to convert natural gas into energy. Crusoe Energy Systems is one of the pioneers in using exhaust gas to power Bitcoin mining operations for mobile generators for on-site mining operations.