Canadian oil manager mines Bitcoin with excess natural gas

posted 7 months ago
A shipping container in a remote corner of a Canadian oil field is mining Bitcoin. The power is coming from natural gas. A traditional oilman by trade, who has worked as a mechanical engineer for an oil company, has become a Bitcoin miner. Its done in the remote, chilly area of Alberta, with cheap power. The oilman said “I know for a fact that I have the lowest [Bitcoin mining] operating cost on the planet.” For now, Mr. Barbour is holding on to the Bitcoin he creates in Alberta, only selling to cover operating costs.

In addition to his container on Black Pearl oil field, he has built and sold 2 other units. He is working on his 4th for a team in Texas that was drilling for oil but only found natural gas. But he has struggled to get oil-industry veterans interested in mining cryptocurrencies. Last September, he showcased a rough version of his mining container at an oil show in Lloydminster, a city on the Alberta and Saskatchewan border, to a bewildered crowd. “Locally, pretty much nobody knows what Bitcoin is,” he said.
Tags: bitcoin, blockchain, news