US energy company opens crypto mining facility in Middle East to use stranded natural gas

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Could crypto cut fossil fuel waste? CrusoeEnergy, an operator repurposing wasted fuel energy to the computational power of crypto mining, partners with Oman to help with the nation’s goal of zero gas flaring by 2030.

As the heated up discussion around the ethical aspects of using fossil fuels in crypto mining remains one of the key topics for the industry, an unexpected partnership between a Denver-based mining company and the government of a gas-rich Middle Eastern country sets a horizon for a positive role of crypto in cutting the fossil fuels waste.

Oman’s government interest in the partnership is driven by an aim to cut the country’s gas flaring — burning off the excessive flammable gas in the process of extraction. Together with Algeria, Iraq, Lybia, Egypt and Saudi Arabia, Oman accounts for 90% of flaring in the Arab region, while the region itself accounts for 38% of global flaring.

 

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