The Brazilian oil giant launches a project to convert surplus natural gas into energy for Bitcoin mining.
Brazilian oil giant Petrobras has announced a project to utilize excess natural gas, a byproduct of oil extraction, to power Bitcoin mining activities.
The initiative involves collaboration with academic institutions, including Universidade Petrobras and the Pontifical Catholic University of Rio de Janeiro. Petrobras’ Cenpes research center will lead the project, exploring not only Bitcoin mining but also potential blockchain applications across the company’s various operations.
This decision marks a step forward in Petrobras’ decarbonization strategy. By converting waste gas into useful energy for mining, the company aims to reduce both energy waste and carbon emissions.
Other companies, such as Tecpetrol, YPF, and Plus Petrol in Argentina, along with Russia’s Gazpromneft, have already adopted similar practices, recognizing the dual benefits of energy reuse and the opportunities offered by the mining sector.
