Petrobras, Brazil’s largest oil company, has entered the world of Bitcoin mining by harnessing excess natural gas produced during oil extraction.
This initiative aims to reduce energy waste and lower carbon emissions, helping Petrobras move toward more sustainable, low-carbon operations.
The project is a collaboration between Petrobras and academic institutions, including its research division, Cenpes, Universidade Petrobras, and the Pontifical Catholic University of Rio de Janeiro.
The goal is to explore blockchain technology’s potential across Petrobras’ operations, focusing on new business models, tokenization, and alternative consensus mechanisms.
This venture marks Petrobras’ first significant step into blockchain research. The company has previously worked on projects like a biomethane marketplace with GoLedger and issued NFTs for employee training in partnership with the Cardano Foundation.
Petrobras joins a growing list of oil companies, such as Tecpetrol, YPF, Plus Petrol, and Gazpromneft, that are using wasted energy from oil extraction to power cryptocurrency mining.
This innovative approach could reshape how energy companies view sustainability in the age of digital assets.
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