August 28, 2020 Equinor will begin using excess natural gas to fuel cryptoasset mining operations.

Multinational petroleum firm Equinor will begin reducing natural gas flaring through the mining of cryptoassets, according to research firm Arcane Research. The Norway-based energy firm will integrate Crusoe Energy Systems’ digital flare mitigation technology in order to use otherwise wasted excess natural gas to generate power for cryptoasset mining hardware. Crusoe previously raised $70M for the development of such technology in a round led by Winklevoss Capital, Polychain Capital, and Bain Capital.

Sources: