A symbiotic relationship is burgeoning in North America between oil and natural gas producers and miners of the cryptocurrency Bitcoin.

EZ Blockchain

Both groups are seeking to capitalize on immense volumes of excess and/or stranded natural gas flared off or shut in by a lack of infrastructure. Bitcoin mining offers a new outlet for this gas at the wellhead, with no need to invest in pipelines, compressor stations or liquefaction.

“Our goal is to monetize the gas as well as solve some of the environmental problems of leaking wells and flared gas,” said EZ Blockchain CEO Sergii Gerasymovych. The company uses excess natural gas to power its onsite bitcoin mining operations at several production sites throughout North America. “It’s not just a one-way road here…I do want the oil and gas...