Company that converts ‘garbage dump gas’ into bitcoins raises $4.3 million

Bitcoin (BTC) mining is an energy-intensive activity. Huge amounts of electricity are consumed with the aim of securing the Bitcoin network and of course earning BTC. Although Bitcoin has received a lot of criticism recently for this reason, there are many companies that are now trying to approach mining Bitcoin from a different angle. Take Vespene, for example, a company that wants to convert methane gas from garbage dumps into bitcoins!

Convert junk to bitcoins

Vespene is a California, United States company that recently invested $4.3 million in investment picked up. With the money, it wants to take the first steps in the development of a system to convert methane gas into electricity. Methane is an important issue in the climate debate.

That’s because methane is “thirty to seventy times as potent” as a greenhouse gas compared to CO2, according to the KNMI. In total, methane emissions would contribute 60% to global warming. So not good. The Vespene project is therefore interesting.

Humanity dumps its waste in landfills where it emits significant amounts of methane gas. Vespene wants to use this gas to generate energy and mine bitcoins. This has a number of advantages; the methane is converted into CO2, the garbage dump will emit less and can count on a new source of income. Where the gas previously simply disappeared into the air, it can now provide new income.

“We convert landfill methane into a valuable energy source and financial value for landfill operators. Using bitcoin mining, we convert methane flows into revenue for our customers, without the need for a network connection or pipeline construction.”

Not the only bitcoin miners plunging into methane

The idea of ​​converting methane gas that was previously only seen as a by-product into bitcoins is not unique. For example, even the oil giant ExxonMobil is testing this idea. It does this at various locations where oil is drilled. This releases methane gas that was previously simply flared. Bitcoin can also reduce the damage here.

Read Also:  Bitcoin Miners Outperform BTC

Another person who is also hoping to find bitcoins in the dump is James Howells. In 2013, he lost more than 8,000 bitcoins that were on a hard drive. He has been looking for this for years and recently came up with a comprehensive new plan.

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here