{"id":14102,"date":"2022-10-13T00:24:22","date_gmt":"2022-10-13T00:24:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/gas-to-bitcoin-firm-crusoe-energy-acquires-the-operating-assets-of-great-american-mining-mining-bitcoin-news\/"},"modified":"2022-10-13T00:24:22","modified_gmt":"2022-10-13T00:24:22","slug":"gas-to-bitcoin-firm-crusoe-energy-acquires-the-operating-assets-of-great-american-mining-mining-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/gas-to-bitcoin-firm-crusoe-energy-acquires-the-operating-assets-of-great-american-mining-mining-bitcoin-news\/","title":{"rendered":"Gas-to-Bitcoin Firm Crusoe Energy Acquires the Operating Assets of Great American Mining \u2013 Mining Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The Denver-based gas-to-bitcoin infrastructure company Crusoe Energy announced on Wednesday that it acquired the operating assets of Great American Mining (GAM). The acquisition gives Crusoe over 10 megawatts (MW) of mining capacity and 4,000 ASIC mining rigs.<\/strong><\/p>\n

Digital Flare Mitigation Firm Crusoe Energy Acquires Great American Mining\u2019s Assets, Acquisition Adds Approximately 9% to Company\u2019s Capacity<\/h2>\n

On October 12, 2022, the digital flare mitigation (DFM) company Crusoe Energy<\/a> announced that it has acquired the assets of Great American Mining (GAM). Through the deal, not only does Crusoe get 10 MW of capacity and 4,000 ASIC mining devices, it also will benefit from \u201ccommercial relationships with several large-scale energy producers in the Bakken region of North Dakota and Montana.\u201d<\/p>\n

Furthermore, it also has acquired a new facility in Ponchatoula, LA which will be used for Crusoe\u2019s new research and development (R&D) center. The news follows Crusoe\u2019s issues<\/a> with the rival firm Alkane Midstream LLC in August, and the company raising $505 million<\/a> in April 2022.<\/p>\n

The recent acquisition announced<\/a> on Wednesday details that GAM\u2019s assets add \u201capproximately 9% to Crusoe\u2019s capacity.\u201d The company will have 125 flare gas-powered modular data centers on the site and it will help \u201creduce flaring by approximately 20 million cubic feet per day.\u201d<\/p>\n

\u201cWe value the relationships established by Great American Mining with oil and gas producers in the Bakken oil fields, and look forward to developing these relationships to enhance and expand DFM operations wherever flaring may be a challenge,\u201d Crusoe\u2019s co-founder and CEO Chase Lochmiller said during the announcement.<\/p>\n

Crusoe says the deployed capacity allows the company to reduce an estimated 800,000 metric tons of CO2-equivalent emissions per annum. The deployed capacity is equivalent to removing 170,000 cars from the road, Crusoe highlights.<\/p>\n

\u201cOur belief at Great American Mining is that bitcoin mining is an important solution to stranded gas and flaring problems \u2013 problems that have frustrated the oil & gas industry\u2019s efforts to improve environmental performance and efficient use of Earth\u2019s natural resources for decades,\u201d Todd Garland the CEO and founder of GAM noted.<\/p>\n

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\nTags in this story
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Bakken oil fields<\/a>, Bitcoin<\/a>, Bitcoin (BTC)<\/a>, BTC<\/a>, Chase Lochmiller<\/a>, CO2-equivalent emissions<\/a>, Crusoe Energy<\/a>, crypto mining<\/a>, DFM<\/a>, DFM company<\/a>, digital flare mitigation<\/a>, emissions<\/a>, Flare Gas<\/a>, GAM<\/a>, Gas<\/a>, Great American Mining<\/a>, mining bitcoin<\/a>, Mining BTC<\/a>, natural gas<\/a>, Todd Garland<\/a><\/div>\n<\/div>\n

What do you think about Crusoe Energy acquiring GAM\u2019s assets? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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