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DENVER -- Crusoe Energy, the locally based energy and technology innovator founded by two Kent Denver graduates, has announced plans to grow its Denver headquarters, expanding their footprint and creating 286 new high-paying jobs in Colorado. The company, founded in 2018, currently has 58 employees, 20 of whom are in Colorado.
On U.S. oil patches stretching along the Rockies and Great Plains, trailers hitched to trucks back up toward well pads to capture natural gas and convert it on the spot into electricity.
Crusoe has reduced flaring by over 1 billion cubic feet since inception and has the potential to reduce greenhouse emissions by the equivalent of hundreds of thousands of cars
The two founders of Crusoe Energy think they may have a solution to two of the largest problems facing the planet today — the increasing energy footprint of the tech industry and the greenhouse gas emissions associated with the natural gas industry.
Cryptocurrency[1] has become increasingly popular since the creation of the first cryptocurrency, Bitcoin, in 2009. In the years following the creation of virtual currency, federal agencies and federal courts have struggled to maintain consistency in how cryptocurrency should be classified and regulated. In the meantime, interest in the cryptocurrency market has only increased, which has led to some innovative crypto-related technology being used in the oil and gas industry.
Springtime is coming to the North American cryptocurrency mining industry. With access to robust capital markets, cheap power, a stable political climate and increasing participation of technological innovators, industrial-grade mining operations are burgeoning in the United States and Canada, providing competition to Chinese mining pools that now control more than half of the world’s hashing power.
A company that turns greenhouse gas emissions from oil wells into virtual currency has landed real money from Colorado’s government to keep dozens of future jobs in the state.
BISMARCK, N.D., March 31, 2021 – Dakota Carrier Network (“DCN”) and Crusoe Energy Systems (“Crusoe”) have collaborated to expand innovative networking solutions throughout North Dakota. DCN’s 14 rural broadband providers and Crusoe established connectivity to extend a combination of fiber and wireless networking solutions across Crusoe’s Digital Flare Mitigation portfolio, which captures otherwise wasted and flared natural gas to power modular data centers.
Bitcoin famously has an energy problem—by some measures, it requires more energy than the entire country of Argentina does. Environmental advocates have repeatedly warned against using this much energy on a virtual currency, particularly when so much energy production still feeds global warming.
In 2018, the global cryptocurrency market had crashed, and Sergii Gerasymovych was looking for a way to keep his Bitcoin mining company afloat. He eventually settled on a plan to make money while cleaning up two notoriously climate-polluting industries.