Unblock raises $15m for flare-gas mining

Mining company Unblock Global has raised more than $15m from Crusoe Energy, Pampa Energia and Petrocuyo. This was announced by the founder of the firm, Thomas Ocampo.

We are already the second miner with flare gas in the world! @UnblockComputos

With an investment of more than $15M in Argentina, alongside @CrusoeEnergy @PampaEnergia and @Petrocuyo we make $200M of Vaca Muerta oil produced with fewer emissions @PluspetrolARG @Tecpetrol pic.twitter.com/zHS5dqm9YG

— Tomas Ocampo (@tomasoc) December 13, 2023

“We have become the second flare-gas miner in the world,” he wrote, showing the facilities.

Unblock intends to mine cryptocurrency from flare gas from the Vaca Muerta field in Argentina. It is the world’s second-largest shale gas field by reserves.

According to U.S. Ambassador to Argentina Marc R. Stanley, this approach to mining “will help the country achieve its climate goals, save energy and allow for earnings.”

Me encanta ver a empresas estadounidenses y argentinas trabajar juntas para resolver problemas y ayudar al medio ambiente. Los genios de Crusoe y Unblock Global descubrieron una manera de quemar metano y generar electricidad. Esto no sólo ayuda a Argentina a cumplir sus… pic.twitter.com/UxDNSt57xM

— Embajador Marc R. Stanley (@USAmbassadorARG) December 14, 2023

“I enjoy watching American and Argentine companies work together to solve problems and help the environment,” he wrote.

In March 2022, it became known that oil giant ExxonMobil participated in a pilot project to use flare gas at wells in North Dakota to power bitcoin mining.

Earlier in August 2023, the American company Nodal Power raised $13 million for the mining of digital assets “on waste”.