Energy from gas-flaring a $16 billion opportunity — PermianChain exec
Digital assets are being leveraged to tackle energy supply challenges despite facing criticism from environmental activists. Mohamed El-Masri of PermianChain highlights the massive potential of recapturing energy from gas flaring, estimating it could yield $16 billion annually. Currently, Bitcoin mining companies and AI data centers have a high demand for natural gas, which could be sourced from the 147 billion cubic meters flared globally each year. El-Masri asserts that Bitcoin mining can dramatically increase the valuation of gas, making the conversion of flared gas into usable energy for mining operations a lucrative endeavor. Furthermore, projects like MARA's partnership in Kenya to utilize geothermal energy exemplify the trend of miners seeking underutilized energy sources. Scientific research underscores how Bitcoin mining can responsibly convert stranded energy while reducing environmental impact by utilizing landfill gases, effectively harnessing energy that would otherwise be wasted. This dual benefit not only provides inexpensive energy for miners but also aids in mitigating emissions from trapped gas sources.
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