Oman Backs U.S. Firm Mining Crypto to Cut Gas Flaring

06/01 17:53

According times of Oman,Oman’s sovereign wealth fund took an equity stake in a U.S. firm that says it helps fossil-fuel producers cut flaring by using stranded natural gas to power cryptocurrency mining instead. Crusoe held a workshop in Oman on Monday with the country’s biggest producers, including OQ SAOC and Petroleum Development Oman. The first Middle East pilot will be launched by year-end or early 2023, Lochmiller said. While the drop in Bitcoin prices “certainly has some impact on our top-line revenue, it doesn’t impact any plans for growth and expansion.”  
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