White Rock's flared gas cryptomine facility launches in Texas

Cryptomining firm White Rock Management has announced it is the latest company to decide to use flared gas to fuel its mining operations, launching its first US bitcoin mining operation in Texas' Brazos Valley region. This bitcoin mining facility will be powered using the oil well's excess natural gas by-product. The company has partnered with NGON to capture the gas, through its mitigation services.

White Rock, like many of the other companies partaking in such energy sourcing, argue that this method of natural gas capturing is less harmful to the environment. According to the company, it will save grid power from burning fossil fuels, recycling approximately 82 million cubic feet (82,000 MCF) of natural gas per megawatt. Likewise, an estimated four million cubic feet (5,000 MCF) of methane per megawatt will be saved. 

According to Serhiy Tron, founder of White Rock Management, the company is currently in expansion mode and is "actively exploring additional locations" throughout the United States and elsewhere in North America, Europe, and Latin America with favorable business and political environments. Tron added: "We are also seeking potential M&A opportunities within the Bitcoin mining industry, as the current market environment is conducive to both M&A and strategic partnerships."

Andy Long, CEO of White Rock Management., commented: "The Brazos Valley mine is the first of several grid independent facilities we are planning in Texas that will utilize by-product natural gas from active oil wells, turning waste into a reliable, non-grid energy source. The launch of our first U.S. mining operation strengthens our position as an emerging player in the global digital asset mining industry."