Dec 08, 2022 | Posted by MadalineDunn
Enerhash is the latest company to partner with an oil company to gain access to and explore the use of flared gas for mining operations. The crypto mining firm has signed an MoU with Allied Energy, through which the two work on the feasibility of developing solutions to utilize stranded and flare gas resources in the US for Bitcoin mining and high-performance data centers.
According to the two companies, they will first focus on establishing electrical generation equipment and data centers at stranded natural gas wells to integrate carbon capture and emission control systems in the framework of a research and development project.
Tamas Seregie, Chairman of the Board of Enerhash, said: "As a former Schlumberger executive I've had the chance to witness the value small independent producers bring to the industry by pragmatically embracing innovation. Together we are looking forward to becoming drivers of the flare revolution by leveraging hypercomputing to address methane management scaling up across Texas and beyond."
Allied CEO George Monteith commented: "It is an honor that Enerhash USA chose to partner with Allied. I am thrilled at the progress we've made through the signing of this MoU and have a great deal of respect for their entire team and their vision for creating micro-grid power sources." Adding: "Over the past several months Allied has signed joint-venture agreements with strategic companies that can procure oil and gas properties that fit specific metrics, and finance large-scale projects. With the signing of this MOU with Enerhash USA, I am confident that we have the right and necessary puzzle pieces fitting together."
The initial 1 MW (300 mcf) site is the first phase of a larger 20 MW development project. Allied-River and Enerhash also have outlined plans to expand their operational footprint to 100 MW rapidly.
According to the two companies, they will first focus on establishing electrical generation equipment and data centers at stranded natural gas wells to integrate carbon capture and emission control systems in the framework of a research and development project.
Tamas Seregie, Chairman of the Board of Enerhash, said: "As a former Schlumberger executive I've had the chance to witness the value small independent producers bring to the industry by pragmatically embracing innovation. Together we are looking forward to becoming drivers of the flare revolution by leveraging hypercomputing to address methane management scaling up across Texas and beyond."
Allied CEO George Monteith commented: "It is an honor that Enerhash USA chose to partner with Allied. I am thrilled at the progress we've made through the signing of this MoU and have a great deal of respect for their entire team and their vision for creating micro-grid power sources." Adding: "Over the past several months Allied has signed joint-venture agreements with strategic companies that can procure oil and gas properties that fit specific metrics, and finance large-scale projects. With the signing of this MOU with Enerhash USA, I am confident that we have the right and necessary puzzle pieces fitting together."
The initial 1 MW (300 mcf) site is the first phase of a larger 20 MW development project. Allied-River and Enerhash also have outlined plans to expand their operational footprint to 100 MW rapidly.
