U.S. energy company Crusoe tackles natural gas energy surplus with Bitcoin mining

According to Bloomberg, Denver-based Crusoe Energy Systems is using some of the remaining natural gas to convert it into electricity to power data centers, which in turn generate revenue through bitcoin mining. The company currently has 8 operations in the United States and plans to add another 30 in the first half of next year. Stakeholders call these data centers a way to solve the growing problem of natural gas burnout by burning off excess natural gas. "This is a very creative way to solve environmental and economic problems in the oil and gas industry, and the company has agreed to provide Crusoe $ 40 million in project financing," said Alex Urdea, chief investment officer at Upper90 Capital Management LLC. He added This business model has attracted interest from large oil and gas producers and may eventually involve revenue sharing.