Petrobras Explores Bitcoin Mining to Reduce Emissions and Generate Revenue
Petrobras, Brazil's state-controlled energy giant, is exploring a novel use for its excess gas: powering Bitcoin mining operations. The project, a collaboration with several institutions and companies, aims to reduce emissions and generate revenue.
Petrobras, which employs over 40,000 people and significantly contributes to the Brazilian state budget, has previously delved into blockchain technology. In late 2023, it launched its first blockchain project with the Cardano Foundation, aiming to improve business models and promote a low-carbon economy.
Now, Petrobras is expanding its blockchain exploration to Bitcoin mining. The project involves various departments and institutions, including the Ledger Labs of PUC-Rio, the Petrobras University, and the CENPES research center. The concept is not new; other oil companies like ExxonMobil and Gazpromneft have already implemented similar projects.
The project involves partnering with Elea Data Centers. Elea is building a high-capacity data center in São Paulo, powered exclusively by renewable energy. This collaboration positions Elea as Petrobras' infrastructure partner for sustainability and AI-related operations connected to the project.
Petrobras' Bitcoin mining project, using unutilized gas, could reduce emissions and generate additional revenue. The project, involving multiple institutions and powered by renewable energy, aligns with Petrobras' commitment to sustainability and innovation in the energy sector.
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