Petrobras is thinking about bitcoin mining as a complementary exercise. Marcelo Curi, a blockchain and crypto architect at Petrobras, has said that the corporate is researching this and different Web3 purposes to cut back carbon emissions.
Brazilian State-Owned Firm Petrobras Researches Bitcoin Mining Integration
Bitcoin mining is beginning to be thought-about by massive oil corporations on the planet. Petrobras, a Brazilian state-owned firm that produces almost 3 million crude barrels, is now researching the mixing of bitcoin mining into its processes.
The target of this implementation could be to develop a enterprise mannequin able to implementing these operations to decrease the corporate’s carbon emissions.
Marcelo Curi, Blockchain & Token Financial system Licensed Architect, who’s on the helm of this course of, disclosed that the corporate was “on the coronary heart of a historic R&D” course of that seeks to develop enterprise/course of fashions with this “highly effective progressive framework, in favor of the worth chain/networks within the transition to low carbon.”
The Petrobras group, built-in by a multi-disciplinary crew, consisting of local weather change researchers, oil researchers, and crypto consultants, can even search to look at the probabilities of blockchain, tokenization, and Web3.
Petrobras isn’t the primary oil firm that desires to harness bitcoin as a complementary exercise with a twin function. Exxon Mobil, one of many largest oil and gasoline corporations, was reported to have applied a pilot in 2022 benefiting from flared gasoline to energy bitcoin miners in North Dakota. On the time, it was mulling to increase these operations to different worldwide oil websites.
Learn extra: Report: Gasoline Big Exxon Is Working a Gasoline-to-Bitcoin Mining Pilot Program in North Dakota
Tecpetrol, an Argentine oil and gasoline firm, can also be a part of this development, together with bitcoin mining actions within the Vaca Muerta oil area, the place benefiting from manufacturing byproducts is unpractical or economically unfeasible.
Learn extra: Tecpetrol Raises Crude Oil Manufacturing Fivefold With Crypto Mining In Argentina
Along with mitigating gasoline emissions, this additionally raises the productiveness of on-site actions. Whereas Petrobras has not indicated if implementing gas-vented powered bitcoin mining is a part of this course of, it could possibly be one of many strategies studied by firm executives throughout this exploratory course of.
