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Power Generators Being Deployed by Casper-Based Startup

A Casper-based company has been slowly deploying Power Generators to Wyoming well sites in order to catch stranded natural gas and mine cryptocurrency with it. Will Reese and Kris Holbrook, co-founders, came up with the concept of using gas for data processing that would otherwise be burned or disposed of by energy companies. They founded Highwire Energy Partners, LLC in January of last year.

The two were heavily involved in the state’s oil and gas industry, and they decided to find a way to stop gas flaring, or the practise of burning off excess gas. Highwire Energy Partners’ technology operates as follows: it takes surplus natural gas, transforms it to electricity on a well site, and then uses the electricity for energy-intensive data computing. To process the stranded gas, Highwire Energy Partners rents Power Generators from a Casper-based company.

This energy is then channelled to a data centre on the wellsite, which houses computing equipment. The computational power can then be used to mine cryptocurrencies, such as Bitcoin, which are encrypted digital currencies. Reese said, “We think we’re onto something here.” Flaring is a sometimes inevitable phase in oil exploration and development, according to energy companies and government officials.

Operators flare, or fire, natural gas instead of venting it into the atmosphere. If a site appears to be profitable, the operators normally intend to create a pipeline for the gas. However, there is always a delay between the start of output and the arrival of a midstream corporation to construct a pipeline. Furthermore, operators want to test wells and collect data to convince midstream pipeline companies to take a chance and invest in an unexplored field.

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