Swiss block reward miner White Rock Management is making its first expansion into the United States, announcing the launch of a new facility in Texas. The facility will rely on by-product natural gas from active oil wells, which the firm says will help conserve the environment.
The new operation will be based in the Brazos Valley region, north of Houston. White Rock will partner with Natural Gas Onsite Neutralization (NGON), a green energy firm that captures the natural gas from the oil wells that would have otherwise been lost and then will use it to power its mining rigs.
As per the firm’s press release, capturing and recycling natural gas has two main benefits. The first is that it will save grid power from burning fossil fuels by utilizing gas that would have otherwise been lost. White Rock claims the facility will recycle approximately 82 million cubic feet of natural gas per megawatt of power.
The facility will also reduce methane venting into the atmosphere from inefficient flares. White Rock estimates it will save 4 million cubic feet of natural gas per megawatt of environmentally harmful methane from being released into the atmosphere annually.
“The Brazos Valley mine is the first of several grid independent facilities we are planning in Texas that will utilize by-product natural gas from active oil wells, turning waste into a reliable, non-grid energy source. The launch of our first U.S. mining operation strengthens our position as an emerging player in the global digital asset mining industry,” CEO Andy Long commented.
The Texas facility will be the first for White Rock in the U.S., but according to founder Serhiy Tron, it won’t be the last. The company is “actively exploring additional locations throughout the United States and elsewhere in North America” as well as “seeking potential M&A opportunities within the bitcoin mining industry.”
The environmentally-friendly nature of the operation will be a welcome sight for the American block reward mining industry at a time when it has faced growing criticism over its carbon footprint and energy consumption.
New York has been one of the states that have moved fast to keep a check on block reward miners. Earlier this month, lawmakers in New York passed a bill that banned block reward mining operations that rely on carbon-based power sources.
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