Gas Flaring as a Billion-Dollar Opportunity: Energy for Bitcoin Mining and AI Data Centers
The demand for natural gas among Bitcoin mining companies and operators of AI data centers is currently high, according to IT BOLTWISE® x Artificial Intelligence. Mohamed El-Masri, CEO of the tokenized energy trading platform PermianChain, sees an opportunity worth 16 billion USD in recovering energy from gas flaring. The utilization of natural gas that occurs as a byproduct during oil production—and is often flared—could represent significant economic potential.
Mohamed El-Masri emphasizes that converting this energy into usable forms for Bitcoin mining and AI data centers could generate annual revenues of up to 16 billion USD. This form of energy conversion not only meets demand but also contributes to sustainability efforts. Globally, 147 billion cubic meters of natural gas are flared annually; if introduced into the market, it could be transformed into substantial revenue.
Particularly in Bitcoin mining, transforming natural gas has shown that its value can increase twelvefold through such technology practices. This highlights how crypto-mining technology promotes sustainable energy practices while seeking cost-effective and untapped sources remains crucial for miners' competitiveness.
An example includes MARA's partnership with the Kenyan government to develop renewable energies where Kenya derives 41% from geothermal sources and 30% from hydropower, underlining potentials within sustainable resources further emphasized by scientific papers illustrating methane-to-electricity conversions reducing harmful emissions, benefiting both environment and economy alike!
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