Petrobras, the Brazilian national oil company, is using flared gas from oil extraction to power its Bitcoin mining project for energy efficiency and sustainability.
The project aims to utilize waste gas that is usually flared or discharged into the environment, causing carbon emissions, and redirect it to power Bitcoin mining operations.
Petrobras is collaborating with research institutions such as Petrobras University and the Leopoldo Américo Miguez de Mello Research, Development, and Innovation Center (Cenpes) to explore other uses of blockchain technology for the company's manufacturing process.
This initiative could serve as a model for other energy companies to reduce their carbon footprint and further enhance Brazil's reputation in supporting sustainable crypto technology adoption.