BasEx | Unblock Raises $15 Million in Mining Flare Gas
Unblock attracted $15 million for mining on flare gas
17.12.2023
Unblock attracted $15 million for mining on flare gas

Mining company Unblock Global has attracted over $15 million from Crusoe Energy, Pampa Energia, and Petrocuyo. Founder Thomas Ocampo announced this.

"We became the second miner in the world on flare gas," he wrote, showcasing the facilities.

Unblock intends to mine cryptocurrency using flare gas from Vaca Muerta in Argentina, the second-largest shale gas field in the world.

According to U.S. Ambassador to Argentina Mark Stanley, this approach to mining "will help the country achieve its climate goals, save energy, and earn revenue."

"I like seeing American and Argentine companies working together to address issues and help the environment," he wrote.

In March 2022, it was revealed that the oil giant ExxonMobil is participating in a pilot project to use flare gas from wells in North Dakota to power Bitcoin mining.

For more detailed information, as well as discounts, check out our Telegram.