We transform wasted gas into revenue on-site with no new infrastructure needed from the producer.
We work with oil and gas producers to put their wasted energy to productive and profitable use.
Bitcoin mining powered by flared natural gas has been a recent and rapid solution to the problem of wasted energy in natural gas.
One of the biggest problems faced by digital currency producers is the high price of electricity needed to farm the currency. If this energy can be found cheaper from a product that would not otherwise be used, it could present the perfect solution for both industries. As an OAG producer, your access to cheap power allows for a significantly more profitable operation compared to standard on-grid applications.
When you combine the low cost of energy, high uptime, and the ability to scale operations, the overall return on investment improves significantly compared to grid-powered crypto mining operations. Lower operational costs mean that companies can reach profitability faster, covering the cost of equipment and infrastructure sooner. Once break-even is achieved, sustained low energy costs and continuous operations lead to ongoing high profitability.
Crypto mining containers and generators can be implemented in a variety of different well sites varying on estimated fuel consumption (Mcf/d). Regardless of what MCF your well is producing, we can source the correct generators and containers needed to create the optimal mining operation for your needs.
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Instead of spending thousands annually per flaring stack to burn off natural gas, OAG producers can utilize on-site natural gas generators to transform wasted gas into energy.
Pickaxe brings our mobile data centers designed for high efficiency mining operations to the oil and gas fields and utilizes the newly generated energy as a 24/7 power source for the data centers.
Crypto mining machines are then deployed inside the data center to generate revenue for the operator. Since each machine is designed to run 24/7, all of the energy being generated can be utilized through mining.
Mining cryptocurrency with natural gas generators offers a high RoR due to the combination of low operational costs, consistent energy supply, and potential environmental incentives. When executed at scale, this method can significantly outpace traditional grid-based mining in terms of profitability.
