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Published by Aerole Buenaventura at March 15, 2019

Alberta Bitcoin Mining with Steve Barbour of Upstream Data

Steve Barbour of Upstream Data, Barbour discusses how his company addresses the issue of stranded energy and gas in the oil and gas industry through Bitcoin mining. Upstream Data captures methane gas that would otherwise be vented or flared, using it to power Bitcoin mining operations, thereby reducing carbon emissions and monetizing the stranded energy for clients. Producers interested in Bitcoin mining with Upstream Data can purchase mining skids directly or have them installed at no cost, with Upstream handling the power purchase agreement. The profitability of mining depends on the power generated on the site, and current profitability information is available on Barbour's website or Twitter. The smallest mining option is 50 kilowatts, with one kilowatt hour generating approximately $0.767 US. The payout time for the skids is around 12 to 14 months in a bear market and less in a bull market.

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