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Report: Gas Giant Exxon is running a Gas-to-Bitcoin Mining Pilot Program

Report: Gas Giant Exxon Is Running a Gas-to-Bitcoin Mining Pilot Program in North Dakota

Exxon Mobil Corporation reportedly participates in a pilot program that uses excess natural gas to power crypto-mining machines according to a report. According to the report, the oil giant has partnered up with Crusoe Energy Systems and the pilot is taking place in North Dakota’s Bakken shale area.

Unnamed sources say Exxon is piloting a Bitcoin mining operation in North Dakota using Flare Gas

On March 24, Bloomberg author Naureen S Malik reported that the largest American oil and gas corporation Exxon Mobil (NYSE: XOM) is participating in piloting a bitcoin mining project with excess gas. Malik stated that Bloomberg was not able to name the people involved because they are not privy to the details. However, the people who asked to not be named said that currently, Exxon Mobil is working with Crusoe Energy Solutions in the state of North Dakota.

Crusoe energy is an oil and gas company that offers a digital solution for natural gas flaring. Natural gas flaring occurs when oil and gas companies process oil from shale. Excess gas is usually burned. Some oil firms have found ways to convert the flare gas into useful energy and Crusoe Energy helps gas companies use the flare gas to mine digital currencies like bitcoin (BTC).

Malik reports that Exxon Mobil is conducting a pilot at an oil pad near the Bakken Shale Basin. According to people familiar with the matter, the pilot’s “bitcoin mining servers”, which were used in the pilot program, are still operating on the site. The Bloomberg reporter was also informed by anonymous sources that Exxon Mobil may add pilot programs to leverage flare gas in order to mine crypto in four countries.

“Exxon is the largest U.S. oil producers. One of the people mentioned that they are looking at similar pilots in Alaska and the Qua Iboe terminal in Nigeria. Although, Malik contacted Crusoe Energy about the story and the reporter said the company “declined to comment.” Crusoe Energy Solutions is based in Denver Colorado, and the company system is called “digital flare mitigation technology” or DFM.

Equinor Operated in North Dakota with Crusoe Energy. Report Also Shows that Conocophillips sold excess flare gas to mining operations by the Bakken Shale Basin

There have been times when speculation has abound about large gas companies mining Bitcoin and reports shining light on particular companies. In August 2020, Arcane Research leaked a number of screenshots from the publicly traded energy firm, Equinor. According to the report, Equinor, a Norwegian state-owned energy company was also involved with Crusoe Energie Solutions. According to reports, Equinor’s North Dakota collaboration with Crusoe was focused on reducing oil flaring via bitcoin mining.

Numerous oil and gas companies operate near the Bakken shale basin. The Bakken shale basin is located in North Dakota, but it also has a presence in Montana and Canada’s provinces of Saskatchewan and Manitoba.

In addition to Equinor and Exxon, reports in mid-February indicated that Conocophillips was allegedly “selling extra flare gas to bitcoin miners in North Dakota.” The CNBC report said that Conocophillips also was working on a pilot in the Bakken shale basin region. MacKenzie Sigalos, a CNBC writer, stated that Conocophillips didn’t disclose to which bitcoin miners it sold, or how long the pilot project had been ongoing. However, Sigalos said in the report that Crusoe Energy is often used by the gas company.

Crusoe Energy is not the only company offering gas-to-bitcoin solutions as the firms Upstream Data and EZ Blockchain provide gas-to-bitcoin services as well. Greenidge Generation also uses excess gas to mine bitcoins instead of wasting or burning the energy. EZ Blockchain revealed last May that it was working with Silver Energy, an oil and gas provider in Texas. At the time, EZ Blockchain said that Silver Energy set up a mining system in Alberta, Canada month earlier in February 2021.

What do you think about the individuals that claim Exxon is piloting a gas-to-bitcoin operation in North Dakota? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Exxon Mobil Corp., Bakken shale basin map,

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or related to the use or reliance of any content, goods, or services in this article.

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Introducing iFX EXPO Dubai 2025 – MENA’s No.1 B2B & B2C online trading event

Be part of the ultimate gathering of industry professionals in Dubai Mark your calendars! MENA’s most popular online trading event – iFX EXPO Dubai 2025 – returns to the region, with the latest instalment promising to be the biggest and best one yet. Taking place between January 14-16, 2025, at the Dubai World Trade Centre,…


Be part of the ultimate gathering of industry professionals in Dubai

Mark your calendars! MENA’s most popular online trading event – iFX EXPO Dubai 2025 – returns to the region, with the latest instalment promising to be the biggest and best one yet.

Taking place between January 14-16, 2025, at the Dubai World Trade Centre, the 2+ day exhibition is one of the largest B2B and B2C expos of its kind anywhere in the world, bringing together key players from across the globe. 

Whether you are a seasoned trader, new to the industry, or a business looking to grow your presence in MENA, iFX EXPO Dubai 2025 is set to be an unmissable event, with 7k+ professionals from 120+ countries set to be in attendance.

Building on the huge success of last year’s event, passholders will be able to access 13+ hours of insightful content across three stages, Speaker Hall, Idea Hub, and Traders Arena, featuring a stellar lineup of influential experts and visionary thinkers.

A must-attend event for traders 

iFX EXPO Dubai 2025 has cemented its reputation as a global meeting point for the online trading community, offering traders the chance to experience unparalleled networking opportunities and cutting-edge industry insights. 

It is a gateway to learning and growth, with all areas of the venue providing fantastic learning opportunities. The main expo floor will serve as the primary marketplace where traders can network with top brokers, access industry leaders, and explore the latest trading platforms and state-of-the-art technologies.

As well as the insightful speaker sessions, Q&As, and panel discussions featured at the Speaker Hall and Idea Hub, traders will be able to head to the Traders Zone, comprising the exclusive Traders Lounge and Traders Arena. 

The Traders Lounge serves as an important hub for collaboration, where traders from around the world can exchange insights, build relationships, and keep updated with the latest industry trends in a more informal setting. 

Meanwhile, the Traders Arena provides a dynamic stage for trading education and community building, offering an ideal environment for traders to learn, share, and grow within the world of online trading.

Business sponsorship and exhibitor opportunities

iFX EXPO Dubai 2025 presents FX and fintech firms with a unique opportunity to showcase their business to a target audience of thousands of attendees from across the industry, including brokers, traders, affiliates and IBs, liquidity providers, fintechs, prop firms, institutional investors, and more.

From start-ups to established companies, the event offers the ideal platform to promote their offerings and put their brand on the map through a range of exclusive sponsorship and exhibitor packages.

By becoming an official sponsor or exhibiting at a booth, companies can not only boost their visibility but also unlock greater opportunities to form strategic partnerships, generate leads, and drive business growth.

Due to high demand, there are limited booths and sponsorship slots available, meaning interested parties are encouraged to get in touch with the event organisers quickly to avoid disappointment.

For more information about how to sponsor or exhibit as a business, click here

Counting down to Dubai 

The excitement is already building, with January fast approaching. iFX EXPO Dubai 2025 is gearing up to be the biggest online trading event of the year in MENA, offering unmatched opportunities for traders and businesses alike. 

Early bird registration is now open, so don’t miss the chance to secure a spot at the event everyone will be talking about. To guarantee attendance at iFX EXPO Dubai 2025, click here.


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Uniswap unveils own layer-2 network Unichain, UNI price soars 11%

Uniswap has launched its layer-2 network called Unichain The OP Stack-powered L2 is in testnet and is designed to improve transaction speed, lower costs, and boost liquidity UNI token’s price surged to $8.14, its highest level in over two months Uniswap, a leading decentralized exchange platform, has announced a major development for its network and…


  • Uniswap has launched its layer-2 network called Unichain
  • The OP Stack-powered L2 is in testnet and is designed to improve transaction speed, lower costs, and boost liquidity
  • UNI token’s price surged to $8.14, its highest level in over two months

Uniswap, a leading decentralized exchange platform, has announced a major development for its network and ecosystem.

The news helped Uniswap’s native token UNI to soar double digits on Thursday.

On October 10, the Uniswap team revealed that the DEX platform was looking to launch its layer-2 network on Ethereum. The L2, dubbed Unichain, is earmarked for decentralized finance (DeFi).

Per the Uniswap Labs announcement, its a solution to transaction speed and costs for the exchange’s users. Also key to the launch is the question of liquidity.

Introducing @unichain — a new L2 designed for DeFi ✨

Fast blocks (250ms), cross-chain interoperability, and a decentralized validator network

Built to be the home for liquidity across chains pic.twitter.com/lqfJh6Ltio

— Uniswap Labs 🦄 (@Uniswap) October 10, 2024

Unichain is powered by Optimism’s OP stack and offers one-second block times. Sub-block times of 200-250 milliseconds is also part of the development.

Uniswap Labs wrote on X:

“This type of speed isn’t just great for UX, it also improves market efficiency and lowers value lost to MEV.”

Uniswap has partnered with OP Labs for native interoperability, with this enabling implementation of cross-chain messaging and cross-chain liquidity. The platforms plan to bolster the ecosystem’s connectivity with cross-chain swapping across the Uniswap interface and wallet.

According to details in today’s announcement, the Unichain testnet is live, while the mainnet will go live later in Q4, 2024.

UNI price soars 11%

Native Uniswap DEX token UNI is among the top gainers in the crypto market. This follows a price explosion for the cryptocurrency after the news emerged.

With most altcoins down on the day or struggling for upside, UNI spiked more than 11% to hit highs last seen in July 2024. The token’s surge to the multi-month high of $8.14 saw Uniswap rank as the top performing coin among top 100 coins by market cap.

UNI traded around $8.05 at the time of writing, still up by more than 9%.


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Fundstrat’s Tom Lee Predicts Bitcoin Bull Market Surge Due to Supply Shock

Tom Lee, CIO of Fundstrat Capital, a financial research firm, has predicted that the bitcoin bull market will continue in December and announced that the first cryptocurrency will reach “well over $100,000” by year-end. Tom Lee Forecasts Bitcoin Reaching $100,000 By Year’s End in All-Asset-Encompassing Bull Market The bull market predictions for bitcoin prices keep [……
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