• Sat. Jul 20th, 2024

Bengal Energy Set To Bitcoin Mining For Its Trial Project

Apr 3, 2022

Bengal Energy is an oil and gas miner from Canada is going to start a trial project for the access of previously regular gas wells using portable BTC mining rigs.

Canadian gas and oil firm Bengal Energy is starting BTC mining to utilize its untapped gas energy from its wells in the far ends of Australian remote areas.

As per the Australian reports, Bengal Energy is preparing to start a pilot project with around 70 BTC mining rigs to be set up in a portable structure, called donga in the local mining industry, which is going to be assembled close to the series of formally out of work gas wells near Cooper Basin.

According to Kai Eberspaecher the Chief Operating Officer of Bengal Energy, the firm obtained the gas wells from its local partners in gas and oil production, Bridgeport Energy and Santos Energy.

The COO added that the gas wells which are newly obtained are posing an interesting issue to the energy firm because they are abandoned wells also known as “stranded wells”. It means even if the firm could technically able to produce the power from the site of the gas, the present pipelines for distribution are very far to reach.

The pipeline is still under construction which can provide the service to remote gas wells of Bengal. Although, the development delays have been worsened due to COVID-19 related problems in the supply chain. Actually, we are looking around six months of getting the wells ready but still without any outlet, as we are handling stranded wells.

Portable BTC mining rigs in donga buildings were coming up as a solution to the issue. A trial donga will be constructed including 66 mining rigs able to generate around 0.005 Bitcoin per day which comes equal to around $235. If the trial run will succeed, as per reports Bengal Energy is looking forward to increasing its BTC mining output by 10 to 20 folds, which means the total revenue might increase from $2000 to $5000 per day.

Bengal Energy included its name among the list of mining firms such as Exxon Mobil and Conoco Philips who are looking to utilize the full capacity of wasted or stranded energy via portable BTC mining rigs.

Don't Miss Out On Bitcoin Evolution!

The Top Bitcoin and Cryptocurrency Price Prediction Software / Trading Robot

Sign Up

Try Crypto Engine With a Trusted Broker