Gate News bot news, Nigerian startup Green Flare, which utilizes torch gas for Bitcoin mining, announced plans to create a 53 megawatt (MW) mining project.
Green Flare announced that it has signed a gas connection agreement with Oil Mining License (OML) 30 Joint Venture, a collaboration completed by Dawcon Energy. This agreement was formulated under the supervision of Nigeria's upstream oil regulatory authority (NUPRC), laying the foundation for Nigeria's first Bitcoin mining utilizing flare gas from the oil extraction process.
The initial phase of the project will establish three mining sites in Nigeria's Delta State, with a total installed capacity of 53 megawatts. Green Flare's co-founder Joseph Lassen stated that the goal is to have the first two mining sites operational before the fourth quarter, "We have already started civil engineering work for the sites (connecting upstream pipelines, completing right-of-way, preparing the sites, etc.), so our progress is smooth."
Green Flare also stated that it may venture into related fields such as artificial intelligence computing and high-performance data centers. The OML 30 joint venture includes the Nigerian National Petroleum Corporation Exploration and Production Limited (NNPC E&P), Shoreline Natural Resources Ltd., and Heritage Energy Operational Services Ltd. (HEOSL). In addition to mining operations, the project also plans to provide power to rural communities in the region.
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The Green Flare project plans to build a 53 MW flare gas Bitcoin Mining Farm in Nigeria.
Gate News bot news, Nigerian startup Green Flare, which utilizes torch gas for Bitcoin mining, announced plans to create a 53 megawatt (MW) mining project.
Green Flare announced that it has signed a gas connection agreement with Oil Mining License (OML) 30 Joint Venture, a collaboration completed by Dawcon Energy. This agreement was formulated under the supervision of Nigeria's upstream oil regulatory authority (NUPRC), laying the foundation for Nigeria's first Bitcoin mining utilizing flare gas from the oil extraction process.
The initial phase of the project will establish three mining sites in Nigeria's Delta State, with a total installed capacity of 53 megawatts. Green Flare's co-founder Joseph Lassen stated that the goal is to have the first two mining sites operational before the fourth quarter, "We have already started civil engineering work for the sites (connecting upstream pipelines, completing right-of-way, preparing the sites, etc.), so our progress is smooth."
Green Flare also stated that it may venture into related fields such as artificial intelligence computing and high-performance data centers. The OML 30 joint venture includes the Nigerian National Petroleum Corporation Exploration and Production Limited (NNPC E&P), Shoreline Natural Resources Ltd., and Heritage Energy Operational Services Ltd. (HEOSL). In addition to mining operations, the project also plans to provide power to rural communities in the region.
Source: The Miner Mag