Now let's see them do H2S

itsyourboypookie said:

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Now let's see them do H2S

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Be setting up shop outside of Mexican food restaurants.

Smart play!

Enchiladas Y Mas bathroom in Austin is a great place to harvest flare offs also.

itsyourboypookie said:

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Now let's see them do H2S

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what are you talking about?

agcrock2005 said:

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ProgN said:

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These 23 year-old Texans made $4 million mining bitcoin off flared natural gas

https://www.cnbc.com/2022/02/12/23-year-old-texans-made-4-million-mining-bitcoin-off-flared-natural-gas.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

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Giga places a shipping container full of thousands of bitcoin miners on an oil well, then diverts the natural gas into generators, which convert the gas into electricity that is then used to power the miners. The process reduces CO2-equivalent emissions by about 63% compared to continued flaring, according to research from Denver-based Crusoe Energy Systems.

"Growing up, I always saw flares, just being in the oil and gas industry. I knew how wasteful it was," Whitehead told CNBC on the sidelines of the North American Prospect Expo summit in Houston, a flagship event for the industry. "It's a new way to not only lower emissions but to monetize gas."

Whitehead tells CNBC they have signed deals with more than 20 oil and gas companies, four of which are publicly traded. Giga also says they're also in talks with sovereign wealth funds, and they are expanding, fast. Giga's 11-person team is adding another six employees this month.

Lohstroh and Whitehead are part of a growing movement of people placing big bets on the potential for bitcoin mining to transform the economics of the energy industry.

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That's impressive.

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Man, it really is.

Good job Matt. That's great.

Very cool story. Congrats to those two guys.

Haven't spoken to Don Wasek in over a decade (just jerky business), but maybe Buccees could "mine" their shi**ers for some energy and call it Buccoin. BUC or something close to that. Maybe BSC since mined from poop.

Anyone still know he and/or Beaver these days?

Here's a crappy (pun) write-up of the two. A&M is well liked there:

https://www.forbes.com/sites/petercarbonara/2017/08/22/buc-ees-game-of-porcelain-thrones/?sh=758a2b077626

peacedude said:

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Haven't spoken to Don Wasek in over a decade (just jerky business), but maybe Buccees could "mine" their shi**ers for some energy and call it Buccoin. BUC or something close to that. Maybe BSC since mined from poop.

Anyone still know he and/or Beaver these days?

Here's a crappy (pun) write-up of the two. A&M is well liked there:

https://www.forbes.com/sites/petercarbonara/2017/08/22/buc-ees-game-of-porcelain-thrones/?sh=758a2b077626

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Well you'd have to build a treatment plant on-site to mine that methane. Not sure you'd make any money running that even if you could mine bit coins

Now some of these huge dairies in the panhandle might be able to this with their waste lagoons, I know in parts of the country they cover the lagoons and capture the methane for energy, normally to run the milking equipment

What a brilliant idea.

I need someone with a brilliant idea and cash to fund the idea and I'll go in 50-50 partnership with you.

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Haven't spoken to Don Wasek in over a decade (just jerky business), but maybe Buccees could "mine" their shi**ers for some energy and call it Buccoin.

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Buttcoin would be more appropriate.

Interesting...I hadn't connected the dots of my idea as far as I should have. Jerky = Herds = Methane.

Thank you, sir.

Heard Ted Cruz discussing this a couple months ago. Assuming he was referring to this team af badasses. Kudos to them.

What the hell is bitcoin mining and what does natural gas have to do with it?

Thumbs up for these two Ags.

No doubt H2S increases their risks and issues and costs. Stranded sweet gas would be better but not necessarily insurmountable depending on H2S concentration.

Ragoo said:

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itsyourboypookie said:

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Now let's see them do H2S

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what are you talking about?

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Sour gas obliterates engines pretty fast. The maintenance costs would add up pretty quickly on some of the really sour gas locations in West Texas.

There's a bitcoin thread on the B&I forum with great resources for your path of self-discovery.

CanyonAg77 said:

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Quote:

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Haven't spoken to Don Wasek in over a decade (just jerky business), but maybe Buccees could "mine" their shi**ers for some energy and call it Buccoin.

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Buttcoin would be more appropriate.

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If you can make money off of it, why make fun of it? This is absolutely another revenue stream for oil and gas companies. I know my midstream company is looking into it now.

BAP Enthusiast said:

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Ragoo said:

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itsyourboypookie said:

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Now let's see them do H2S

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what are you talking about?

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Sour gas obliterates engines pretty fast. The maintenance costs would add up pretty quickly on some of the really sour gas locations in West Texas.

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well sure. But what does that have to do with the OP? Not all nat gas is sour. Not all sources are ideal candidates. It is a meaningless comment.

BAP Enthusiast said:

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CanyonAg77 said:

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Quote:

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Haven't spoken to Don Wasek in over a decade (just jerky business), but maybe Buccees could "mine" their shi**ers for some energy and call it Buccoin.

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Buttcoin would be more appropriate.

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If you can make money off of it, why make fun of it? This is absolutely another revenue stream for oil and gas companies. I know my midstream company is looking into it now.

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Into mining **** from Buccees?

BAP Enthusiast said:

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CanyonAg77 said:

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Quote:

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Haven't spoken to Don Wasek in over a decade (just jerky business), but maybe Buccees could "mine" their shi**ers for some energy and call it Buccoin.

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Buttcoin would be more appropriate.

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If you can make money off of it, why make fun of it? This is absolutely another revenue stream for oil and gas companies. I know my midstream company is looking into it now.

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I wasn't referring to oil and gas, was I?

itsyourboypookie said:

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Now let's see them do H2S

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Not all fields have H2S. They're appropriately avoiding any H2S fields.

I've been on a few calls with these two and had the opportunity to meet up with them just before the Alabama game (where their picture on the field is taken). On the calls there have been several people in oil and gas, finance, and Bitcoin asking tough questions. These two youngsters answered every question asked thoroughly and without hesitation.

These two love them some Aggies, and the company is made up of almost all Aggies. Heck, a good portion of their investors are Aggies. I hope Giga kills it and funds our next stadium expansion, or at least a bit of NIL.

So all I've gotta do to get a new graphics card is to look for a shipping container next to an oil pad?

Now that is some innovative thinking! Could be even better with a solar farm in Arizona.

aglaes said:

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What the hell is bitcoin mining and what does natural gas have to do with it?

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I'm with you .. what the heck is that ?

aglaes said:

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What the hell is bitcoin mining and what does natural gas have to do with it?

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Bitcoin mining is done through computers running extremely complicated algorithms to fill gaps in a chain/puzzle. Complete a chain and it's worth ~$40k.

It takes a ton of energy to run the computers to run these algorithms, enough so that you'd spend close to that $40k to mine one coin, making it not worth it to mine coin at home.

Enter pre-grid or self made electricity. If you can purchase in front of the grid, you save a ton of money. If you can generate your own electricity, you save even more. These young men use what would otherwise be wasted gas to run massive diesel generators to mine coin.

vansprinkle said:

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aglaes said:

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What the hell is bitcoin mining and what does natural gas have to do with it?

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Bitcoin mining is done through computers running extremely complicated algorithms to fill gaps in a chain/puzzle. Complete a chain and it's worth ~$40k.

It takes a ton of energy to run the computers to run these algorithms, enough so that you'd spend close to that $40k to mine one coin, making it not worth it to mine coin at home.

Enter pre-grid or self made electricity. If you can purchase in front of the grid, you save a ton of money. If you can generate your own electricity, you save even more. These young men use what would otherwise be wasted gas to run massive diesel generators to mine coin.

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What is the capital cost of all this computing power? I'm a Bitcoin mining idiot but curious what the ROI is.

Spaceship said:

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vansprinkle said:

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aglaes said:

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What the hell is bitcoin mining and what does natural gas have to do with it?

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Bitcoin mining is done through computers running extremely complicated algorithms to fill gaps in a chain/puzzle. Complete a chain and it's worth ~$40k.

It takes a ton of energy to run the computers to run these algorithms, enough so that you'd spend close to that $40k to mine one coin, making it not worth it to mine coin at home.

Enter pre-grid or self made electricity. If you can purchase in front of the grid, you save a ton of money. If you can generate your own electricity, you save even more. These young men use what would otherwise be wasted gas to run massive diesel generators to mine coin.

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What is the capital cost of all this computing power? I'm a Bitcoin mining idiot but curious what the ROI is.

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It's like anything, new versions versus old, faster options versus slower options. Some are more reliable than others, etc. I think all in a full basic rig setup is maybe $20k? Higher end ones are a bit more. I'm not a miner, and am not super knowledgeable on Bitcoin. I am however in O&G and have several very close friends that are absolute BTC geeks.

I wonder if smaller wind turbines would generate them over needed, would cost less and the land owner would have more options to sell to the grid or mine or use to personal generation

BQ_90 said:

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I wonder if smaller wind turbines would generate them over needed, would cost less and the land owner would have more options to sell to the grid or mine or use to personal generation

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Wind and solar aren't reliable enough for them. They need something working 24/7, the computers don't take naps or holidays. The wind doesn't always blow and the sun doesn't always shine.

Wells do go down, but the computing units are portable and can be moved to other wells when needed.