Crusoe Energy powers data centers and cryptocurrency mining operations with gas from underused wells.
Make waste methane emissions, venting, and flaring from the oil and gas history.
Crusoe sells powerful computing services to companies and cryptocurrency miners while slashing methane emissions, which are a big contributor to global warming.
i dig it - here's why...
Methane has more than 80 times the warming power of carbon dioxide over the first 20 years after it reaches the atmosphere. And at least 25% of today’s global warming is caused by methane emissions. By capturing methane gas at unused and underused wells and turning that into computing power, Crusoe Energy makes sure that gas doesn’t go to waste.
HERE's the deal
Powering Data Centers Adds Up
Wasting a Continent’s Worth of Energy
Using energy that would otherwise be wasted to power the new distributed computing operations in the U.S. is an equation that equals money in the bank. Data center services were worth a whopping $206.2 billion in 2021 and that’s expected to hit $404.9 billion by the end of 2022. Using energy that would otherwise be wasted to power the new distributed computing operations in the U.S. is an equation that equals money in the bank.
Globally, 142 bcm of natural gas was flared in 2020 – roughly equivalent to the natural gas demand of Central and South America.
It’s Good (Show) Business
The pitch to take waste methane and use it for computing makes even more sense in Tinseltown. Making Hollywood magic these days requires a lot of energy intensive technology. One frame of Disney’s Jungle Book required 30-40 hours of work from animators and tens of thousands of computers to produce.
Flaring Gas Stinks
Flaring or venting natural gas from drilling operations or oil production is bad for the environment. And as wells become tapped out it becomes harder to flare the gas appropriately so finding ways to effectively use that gas means less escapes into the atmosphere. In 2020 flaring emitted 265 metric tons of CO2 and 240 metric tons of CO2 equivalent into the atmosphere.