Gazpromneft announces partnership with BitRives

Gazpromneft, a subsidiary of oil and natural gas giant Gasprom, has announced a partnership with BitRives to launch a crypto mining operation. According to the partnership, both companies will explore the use of CO2 for the generation of power to mine cryptocurrencies

Based on the details of the partnership, the two firms will work together to draw surplus electricity from the carbon dioxide (CO2) released via the oil extraction operations of Gazprom in Russia. This is usually an issue for several companies since they need to burn it in the atmosphere. This makes Gazpromneft’s activity a much better solution.

The Project Will Be Implemented In Stages For Two Years

Founder and Chief Executive Officer of BitRiver, Igor Runets, commented on the development. According to him, the company will be building a mining infrastructure in Russia with the support of Gazpromneft. The plan is to make sure the infrastructure generates up to 2 Gigawatts of electrical power, which will be larger than the electrical infrastructure built in Texas by Riot Blockchain, a U.S. mining company.

Runets says the project will be implemented in stages over the next two years to “additionally provide high and stable power consumption.”


Source: kripto coin haber