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FAQs

Why is an oil company getting into Bitcoin mining?

Union Jack Oil plans to monetize unused natural gas by powering Bitcoin mining operations, creating early revenue before full gas field development at West Newton.

What are the expected benefits for Union Jack Oil?

The hybrid model offers “very attractive returns” by generating cash flow from otherwise unused gas wells while awaiting full field development approvals.

When will the Bitcoin mining operation begin?

Initial deployment at West Newton A awaits regulatory approvals, with potential expansion across the field if the non-binding agreement becomes finalized.

The post UK Oil Company to Power Bitcoin Mining with Natural Gas  appeared first on Coinpedia.org.

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