During the St. Petersburg International Economic Forum, Gazprom Neft and the BitRiver mining company entered into a partnership to mine cryptocurrencies using associated gas.
Under the agreement, Gazprom Neft will generate electricity by burning associated petroleum gas. Electricity will be used to power data centers, which will be deployed by BitRiver. The main purpose of such data centers will be the extraction of cryptocurrencies, however, part of the capacity can be directed to other IT projects.
In a press release highlightsthat Gazprom Neft already has a similar infrastructure in three regions of Russia. At the same time, the company itself does not work with digital currencies – this is not part of its business model. However, the sale of generated electricity to BitRiver data centers fits well into the Gazprom Neft paradigm.
“In the next two years, BitRiver intends to implement projects to create its own data centers for energy-intensive computing with an increase in capacity up to 2 GW, including using associated petroleum gas, which will additionally ensure high and stable power consumption,” said Igor Runets, founder and CEO of BitRiver.
It should be noted that back in the fall of last year, Russian oil companies submitted to the Ministry of Industry and Trade, the Ministry of Digital Development and the Central Bank of the Russian Federation a project involving the extraction of cryptocurrencies in oil fields using associated gas.
Source: Bits
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