Bitcoin is going more green with every environmentalist protest. This has never been more evident than in places like Texas where natural gas wells have become the solution. Normally, natural gas is the problem. But now, it’s actually solving a huge one in the Bitcoin mining industry.
Alice Hines of Vice visited the power-duo Brent Whitehead and Matt Lohstroh, co-founders of Giga Energy Solutions. For the second episode of Cryptoland, they walked her around the facility in Texas to show her how everything works. When you see the operation for yourself, you’ll realize why it’s so amazing.
What’s The Problem In Texas?
There are oil rigs all over Texas that have no purpose and are either vented or flamed off. These solutions are not at all environmental-friendly. Flaming off natural gases releases carcinogens, which can cause cancer, and methane, a greenhouse gas, into the atmosphere. That’s a problem that Texas has been dealing with for years, and people like Brent Whitehead and Matt Lohstroh have brought the solution.
The alum from Texas A&M got their heads together and decided to harness that power and use it for good. They have “fed two birds with one hand” by converting natural gas into energy to power their Bitcoin mining operation. Finally, a solution everyone in Texas can appreciate.
Bitcoin Is The Win-Win
“This gas is unable to be sold to a pipeline, so otherwise they’re either venting or flaring the gas. If you are venting the gas you’re just literally venting the methane into the atmosphere. It’s really bad. We can come in and we can add the benefit of lowering emissions, while also adding revenue to the community. That’s a win-win for everybody.” Brent Whitehead
With more people like Brent and Matt looking for low-cost solutions to their energy needs, Bitcoin mining can help whole communities thrive. Bringing more companies into the area and creating more jobs is one way these new Bitcoin mining operations are being such a benefit. But also, the green solutions they bring with them are so inventive; it’s a surprise no one came up with them earlier.
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