Exxon Mobil, one of the world's largest publicly traded international oil and gas companies, is considering expanding its pilot program that uses excess natural gas to power cryptocurrency mining operations up to four more countries, Bloomberg has learned, citing people familiar with the matter.
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As per the report, the oil giant has signed an agreement with Crusoe Energy Systems to use gas from an oil well in the Bakken shale basin to power generators used for ASICs that mine bitcoin (EXANTE: Bitcoin). The pilot, which was launched in January last year, will reportedly be expanded in Alaska, the Qua Iboe Terminal in Nigeria, Argentina’s Vaca Muerta shale field, Guyana and Germany. However, timeline for the expansion was not revealed.
In March, Asset manager VanEck filed with the US Securities and Exchange Commission (SEC) an application to launch an ETF focused on crypto and gold mining companies. According to the filing, the VanEck Gold and Digital Assets Mining will track an index consisting of a basket of shares of gold and cryptocurrency mining companies.
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