Home Cryptocurrency World Economic Forum highlights flare emissions for Bitcoin mining

World Economic Forum highlights flare emissions for Bitcoin mining

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The World Economic Forum (WEF) has indirectly approved the use of Flare Emissions for Bitcoin mining.

In an unexpected turn of events, the lobbying group video Featuring Chase Lochmiller, CEO and co-founder of Crusoe Energy, on turning waste methane emissions into energy.

Crusoe Energy brings mobile and modular infrastructure to oil and gas sites to convert waste emissions into energy. Turn on the power Data Centers and Cryptocurrency Mining – This reduces the environmental impact of fossil fuel production and leverages alternative energy sources.

“This will help energy producers clean up the least efficient parts of their operations to meet rising environmental standards for flaring and emissions.”

Rockmirror does not directly mention Bitcoin

The work done by Crusoe Energy aligns the future of computing with the “future of climate,” according to the WEF.

In a short video, Lochmiller explains that it is not always economically viable or logistically viable to collect flare gas, and that energy producers are required to burn the waste gas on-site. explained that it leads to

Crusoe Energy co-locates its mobile data centers with fossil fuel production sources and uses waste methane streams to cost-effectively power its computing equipment at the location.

“By doing so, not only will we achieve significant emissions reductions from this previously wasted energy source, but we will also harness this stranded form of energy to create an ultra-low-cost computing infrastructure. You can also.”

The video claimed that methane is “one of the most powerful greenhouse gases,” trapping 80 times more heat than carbon dioxide in 20 years.

According to the WEF, computing currently uses 1.5% of the world’s total power output. However, by 2030, it could consume up to 8% of global electricity production.

There was no direct mention of Bitcoin mining, although it mentioned data center and computing uses.Crusoe Energy website Their computing systems are used for AI and deep learning, blockchain and cryptocurrencies, and “intensive research” applications.

WEF wants to change public image

WEF initiatives such as advocating insect consumption “Fighting climate change and managing the health crisis”Great reset,” has faced backlash from some who see these moves as inherently conspiratorial.

At last year’s Davos meeting, the WEF Managing Director Saadia Zahidi We have addressed these concerns and dismissed ties with the malicious global elite or Deep State. She said the organization has been the target of a “misinformation campaign” and is working to improve its public image I got

“We, like many other organizations, have been targeted by misinformation campaigns, and it is something that we are trying to fight very aggressively.”

Nonetheless, WEF-Crusoe Energy’s comments on the video were skeptical, especially as to why Bitcoin was not mentioned and why the organization now appears to favor Proof-of-Work mining. It was full of views.

recently articlethe WEF advocates for sensible and coordinated global policies, under the guidance of the Financial Action Task Force (FATF) rules, particularly with respect to “know your customer” compliance.

supported the article Digital Currency Governance Consortium – An organization of over 80 organizations tasked with shaping the direction of digital currency development.

Posted In: Bitcoin, Mining
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