How we set up a stranded gas well for bitcoin mining.
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A video walk-through of a bitcoin mine on a stranded gas well.
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How we set up a bitcoin mine on a stranded gas well.
Recently we equipped a Lloydminster-area gas well with three of our Hash Generator products. This site will soon be home to up to 30x V8 engines mining bitcoin, each currently earning up more than $12 USD/MCF.
What a wonderful feeling it is to take a stranded gas well and apply a technology that lets the producer export their gas to the Bitcoin network!
In the 10+ years that I have been working to bring new products to the oilfield I have learned that sometimes the best way to sell a product is to simply show people how its done.
So check out our walk-through of a formerly stranded gas well facility below. Then go ahead and treat yourself and order a few dozen Hash Generators for your facilities today :D
We ship all over North America, you can contact us here: sales@upstreamdata.ca
How we set up a stranded gas well with bitcoin mining Hash Generators
Benefits of mining bitcoin on stranded gas wells:
1) More revenue: Bitcoin mining offers an alternative revenue stream which a producer can use as their primary revenue stream or as a hedge against uncertain markets. Revenue has reached as high as 20x that of alternative markets.
2) Revitalize mature properties: Small engines only need ~5 ounces of inlet pressure and only a few thousand cubic feet of fuel gas per day (a Hash Generator consumes ~15 mcfd, for example). Even mature gas fields can benefit.
3) Operational efficiency: The gas well is produced to 100% of its potential with zero wasted fuel. Compare that to compression and pipelines which take significant % of available energy to move the gas to the market.
4) Energy custodian: There is literally no energy wasted mining bitcoin, whereas all energy is wasted in a combustor or flare stack. The money earned by mining also pays for the gas well's future reclamation costs.
5) Full reserves: Every drop of gas produced is booked, monetized and contributing positively to the economy.
6) Landowners happy: The landowner earns rental fees and in some cases mineral royalties, they are enriched and can better maintain their land.
7) Local county happy: The local county is benefitted from more prosperous landowners and the resultant economic lubrication. As a result they are in a position to offer higher quality services to the community.
8) Government happy: Government revenue increases is better able to maintain critical infrastructure.
Click here to for more about this facility!
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