Mr. Muhammad Ali Tamim, Iraq’s deputy prime minister, held discussions with U.S. Secretary of State Mr. Antony Blinken to examine potential areas of collaboration in the future. Iraq is taking steps to reduce the harmful emissions of flare and tail gases produced during oil processing.
A significant issue arises: Can Iraq become a major player in the expanding race to mine Bitcoin? Despite the challenges posed by the secluded oil fields, Iraq aspires to eliminate gas flaring entirely by 2027.
The advantage of bitcoin mining using flare gas is that it can be powered by any kind of energy source. Interestingly, a Texas enterprise, called Giga, has been able to produce the output power using the flare gas. Nevertheless, turning entire Iraq’s flaring gas to utilization if all straightforward is the main challenge.
The gas we’ve captured can generate electricity, which could be utilized in our domestic market or sold to mining industries for extra income. Another potential source of revenue comes from carbon credit sales on the blockchain, demonstrating Iraq’s commitment to reducing environmental impact.
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2024-04-17 01:08