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.
One of my favorite things about crypto is that, every so often, your conception of what it is changes.
Cully Cavness, President & Co-Founder
Denver-Based Cleantech Company Crusoe Energy Wins Prestigious Statewide Technology Award