After spending most of last year trading for about $9,000 to $10,000, Bitcoin prices have shot up since December.
Bitcoin miners are rewarded with new Bitcoins every time they solve a new algorithm that is added to the chain of transactions for existing Bitcoins.
“Flared gas is very impractical to capture very expensive, so flaring gas is a big problem,” said Joel Gordon, who grew up in Canada and now runs Silver Energy.
These kinds of sites can deliver energy for 30% to 50% less than plugging into the traditional grid, Gerasymovych said.
Silver Energy’s Bitcoin mining unit uses the heat from natural gas flaring to power a generator that produces about 3 megawatts of electricity, all going to power the data center that would fit on the back of a semi-truck.
Kyle Arnold is the aviation writer for The Dallas Morning News, covering airlines, air travel and the aerospace industry.