The WEF’s Subtle Shout-Out to Crypto Mining
In a recent video by the World Economic Forum (WEF), viewers were treated to the sight of advanced technology wrapped in environmental advocacy. The Colorado-based company, Crusoe Energy Systems, was highlighted for its efforts in reducing flaring, which is the wasteful burning of gas during oil production. Yet, intriguingly, not a single mention of Bitcoin was made, leaving many scratching their heads. Was this a coy nod to crypto or a strategic omission?
What’s the Deal with Flaring?
Flaring is like that annoying habit of leaving your lights on when you leave the house—except it wastes gas on a much larger scale. Crusoe uses stranded energy from these flares to power its data centers, allowing the company to produce “ultra-low-cost computing infrastructure.” It’s like fishing in a barrel, but instead of fish, it’s wasted energy. Talk about a win-win!
Who’s Behind Crusoe?
Chase Lochmiller, the CEO and co-founder, was on screen to explain how their modular data centers work. Imagine having a portable power plant that not only reduces waste but also churns out computing capabilities. It’s energy efficiency in its finest suit—handsome but tricky to pin down when it comes to what’s actually being powered.
Public Reaction: Enthusiasm or Skepticism?
The video sparked mixed reactions across the crypto community. Michael Saylor, a notable figure in Bitcoin circles, was quick to promote the WEF’s showcase to his 3 million Twitter followers. He proclaimed that even the often-cryptocurrency-skeptical WEF acknowledges the environmental benefits of Bitcoin mining.
But Wait, There’s More!
Kristine Cranley from the Texas Blockchain Council raised an eyebrow on social media, highlighting how the WEF’s presentation didn’t once refer to the “b word” — Bitcoin. Instead, it danced around the topic like a cat on a hot tin roof. Some followers even speculated that the WEF’s previous stance against Bitcoin’s energy usage might have led to this cryptic presentation.
Crusoe’s Growth and Future Steps
Crusoe isn’t just basking in the limelight; it has been expanding aggressively. After acquiring assets from the portable Bitcoin miner Great American Mining, they’re ramping up their operations. With over 10 megawatts of mining power now at their disposal, who knows how many videos might come out of the WEF reflecting this trend?
Oman’s Green Goals
In June 2022, Crusoe made headlines by partnering with Oman to help combat gas flaring, aiming for zero flaring by 2030. They’re set to set up shop in Muscat, demonstrating that marriage between technology and sustainability can create a legacy beyond just capital gain.
The Takeaway
In the end, the WEF’s video might have refrained from saying ‘Bitcoin’, but they sure showcased a gleaming social narrative in favor of cryptocurrency mining’s environmental potential. And whether it’s sustainable or not, the hype around its energy-saving qualities is growing like a weed—except the weed is, well, kind of green.
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