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Russian officials consider proposal to mine Bitcoin with associated gas
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The Russian government is considering a new project to mine Bitcoin (BTC) with associated petroleum gas.
Vasiliy Shpak, Deputy Minister of Industry and Trade of Russia, has reportedly filed a proposal with the Russian central bank and the Ministry of Digital Development to use the country’s oil field equipment for mining cryptocurrency.
According to a report by Kommersant, the proposal was filed on Sept. 7, asking the government to provide their feedback on an initiative originally coming from local oil and gas companies.
The firms specifically proposed to use associated gas to power nearby data centers for mining Bitcoin. This type of natural gas is a byproduct of oil drilling, but due to the incredible cost of proper gas infrastructure, it
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