Shale oil has also revolutionized crypto mining through something called flare gas. ⛽️ Mining BTC with flared natural gas is a potential gold mine for miners, with positive effects for the general public. Let's analyze how 👇
until the end of next year. More shale oil means more potential for natural gas that can be flared. Moreover, shale oil producers will be thrilled byWhile though the IEA notes that the "Net-Zero Emissions by 2050 Scenario requires all non-emergency flaring to be eliminated globally by 2030," this would require a 90% reduction in flared volumes from current levels.You be the judge of that, but mining Bitcoin and monetizing the emissions would be a good compromise.
The price of BTC itself shows no relevant correlation to the price of oil. Moreover, BTC is mostly mined from other energy sources, soOverall, we are likely looking at. Oil priced in gold was cheap for a few years, but with geopolitical tensions rising, this is changing: Put simply: the more expensive oil is, the better for shale oil producers. The more shale oil is produced, the more natural gas needs to be flared. Good for Bitcoin miners that want to do that.Shale oil production will probably rise throughout the next year.Mining BTC with flared natural gas is a potential gold mine for miners, with positive effects for the general public. Several big companies are looking into it, and mining with flared gas will likely only grow bigger in the future.
We'll look at the potential impact of BTC mining with non-rivalrous energy and its impact on the power grid in a future article. This article contains links to third-party websites or other content for information purposes only . The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site.
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