Moser Energy Systems has recently partnered with Highwire Energy Partners, a locally-owned business that utilizes Wyoming’s oversupply of natural gas in order to mine cryptocurrency.
Cryptocurrency is a relatively new form of “money,” that doesn’t actually involve physical dollars and cents. There’s no cash. Cryptocurrency, such as Bitcoin, is a digital asset that can be used to make purchases.
Additionally, cryptocurrency is completely decentralized, meaning there’s no central authority (such as banks).
Cryptocurrency is of special interest to energy companies, such as Moser Energy Systems, due to the element of “mining” that goes into it.
“The key to cryptocurrency and being profitable in mining is your operational expenses, with power being your number one operational expense” said Ashton Wilson of Moser Energy Systems. “It’s your number one OPEC when mining cryptocurrency; electricity, right? So there are some guys in the industry who figured out that there are a lot of stranded wellhead gas where there is no infrastructure, pipelines, etc.”
Wilson said that the producers of the wellhead gas (such as oil and gas companies)have to flare that gas off or pay to have it be hauled off. Basically, the remaining gas was just being wasted. Highwire Energy Partners figured out how to utilize that leftover natural gas. Highwire taps into those natural gas wellheads by using custom huts, about 14’x14’ in size, taking them directly to the well. Then, they use a field generator to run off the extra gas at the well.
That’s where Moser Energy comes in. Wilson called the partnership a “win-win for all parties involved,” because when the cryptocurrency miners at Highwire decided they wanted to use natural gas generators, they immediately thought of Moser Energy, who can provide the generators for a very low cost.
“At that point, you can scale your mining operation based off of how much gas that location or site produces, so now it’s a win-win for the producers,” Wilson said. “They’re not having to pay permitting fees for flaring.
It’s a win for the environment because we put out significantly fewer flare emissions, and it’s a win for us as well.”
Wilson said the environmental impact is one of the biggest reasons Moser Energy has teamed up with Highwire.
“As oil and gas producers are running into stricter emissions, they have to figure out a way to reduce flare gas and reduce emissions. And this is a perfect turnkey solution for the oil and gas industry when it comes to the environmental impact and the greenhouse effect.”
Moser Energy acts as the liaison between the oil and gas industry and cryptocurrency miners. It provides the means to actually mine and it serves the environment in a way that will be reflected for years to come.
“I think Moser Energy is proud to play a crucial role and provide a positive impact and environmental solution, relating to the oil and gas industry, as well as being a key player in the new world of cryptocurrency.”