Energy company looks to reduce flaring in the Bakken and turn it into crypto

WILLISTON, N.D. - As companies and officials look to get creative in the methods of capturing natural gas in the bakken, Crusoe Energy may have the most unique plan, installing a piping system and generators to use as power for computing systems.

“I really just wanted to think of a way to reduce that problem and the emissions and the environmental challenges associated with [flaring],” said Crusoe president Cully Cavness.

The company is using what they call digital flare mitigation technology. By purchasing the gas that would have been flared, they are able to turn it into power, and Crusoe then uses it to develop their own money through bitcoin mining.

“Given the energy intensity of bitcoin computing, pairing it up with a stranded energy resource that was otherwise wasted like flare gas made a ton of sense,” said CEO Chase Lochmiller.

Crusoe has been operating in the Williston Basin since 2019, and continues to expand, recently receiving funds with Williston Economic Development to purchase a bigger facility. City officials say Crusoe will not only help the state solve the issue of flaring, but also support Williston.

“They purchased a building here in the city of Williston and they are going to employee around 30 people. This is all good for the city of Williston bringing those kind of jobs and also using up the gas that would have been flared,” said Williston Mayor Howard Klug.

President Cully Cavness says the bakken is ripe with opportunities due to many pockets in the area that aren’t fully served by pipelines, meaning the future is bright as the company looks to turn waste into gold.

Copyright 2021 KFYR. All rights reserved.

Read more:Energy company looks to reduce flaring in the Bakken and turn it into crypto

Related articles

Related Posts

Trend Now

  • Trending
  • Comments
  • Latest