Hi HODLers,
What is the idea behind Crusoe Energy?
Don't waste energy!
It uses the concept of flaring:
Flaring is the practice of burning natural gas that can't be easily moved or captured.
Though it's an inefficient use of resources, from gas companies' perspective, it's much more economical than trying to actually utilize the gas.
Crusoe helped pioneer the process of using that excess natural gas to create electricity and power Bitcoin mining machines positioned onsite.
No gas burn and no need to move it anywhere else!
Flare mitigation would work against the argument of Bitcoin being negative for the planet.
Indeed, using excess gas to mine Bitcoin is cleaner than burning it and putting more carbon into the air.
Crusoe recently announced that it has raised $350 million in a Series C round led by G2 Venture Partners
In addition it secured up to $155 million in credit from SVB Capital.
Recruiting Spree?
They plan to recruit 100 additional employees to join its 157-person staff! Almost doubling its total overall headcount.
This will be a huge amount of new employees to integrated but if done well, the company could reap some serious benefits.
My take
This is a great idea and even if it will be marginal to the overall energy consumption of the Bitcoin Network (despite being already using a lot of renewable energy), this will help to push our narrative that Bitcoin is using more green energy and efficiencies to power a much needed free and accessible money ecosystem.
We can see that European lawmakers are secretely pushing their agenda to target Bitcoin under the "Save the Planet" message.
They are already questioning qhy Bitcoin does not move to PoS as its little brother Ethereum is doing.
We have to be prepare for it. Stand your ground!
Stay safe out there,
Source : Coindesk article
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Ohh well, there is no new narrative to blame PoW cryptocurrencies in the collapsing global economy. I think any source of energy should be incentivised by BTC / Crypto whale groups to prove that our cryptocurrencies may sustain the energy from different sources by going eco friendly :)
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Well I'm not knowledgeable about bitcoin mining business but I agree that wasting energy is not good. You too stay safe out there, have a nice day.
Once upon a time, I wrote a term paper on biogas plants, their economic indicators and their design, it was a long time ago, in the early nineties, it is difficult to imagine electricity cheaper than what is obtained by burning gas from a renewable and cheap gas source. A great option for the work of miners, and if you start a farm with bulls, then you will reduce the cost of coins to zero, close to it. Of course, after the payback of the livestock, the construction of the farm, treatment facilities and a biogas reactor.
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