Williston, North Dakota (May 8, 2023) — Atlas Power, a leading provider of bitcoin mining infrastructure led by CEO Kevin Washington and COO Jeff Young, and Giga Energy, a pioneer in innovative gas-to-energy solutions founded by Brent Whitehead and Matt Lohstroh, have announced a groundbreaking joint venture to utilize stranded and flare gas for bitcoin mining operations. This partnership aims to address the environmental concerns surrounding gas flaring while capitalizing on the growing demand for sustainable and efficient bitcoin mining solutions.
As part of the joint venture, Atlas Power will provide state-of-the-art bitcoin mining infrastructure, while Giga Energy will contribute its expertise in capturing and converting stranded and flare gas into electricity. This collaboration enables the companies to harness an otherwise wasted resource, reduce greenhouse gas emissions, and generate value through the energy-intensive process of bitcoin mining.
The joint venture will initially focus on identifying and developing suitable sites in the Williston area, primarily targeting oil and gas fields with significant stranded and flare gas potential. By converting this gas into electricity for bitcoin mining, the partnership will not only drive the adoption of sustainable practices within the industry but also create new revenue streams for Atlas Power, Giga Energy, and associated stakeholders.
Atlas Power CEO, Kevin Washington, said, “We are excited to join forces with Giga Energy in this transformative venture. By tapping into the potential of stranded and flare gas, we’re taking a significant step towards environmentally responsible bitcoin mining while creating new opportunities for growth in the energy and bitcoin sectors.”
Atlas Power COO, Jeff Young, added, “We are excited about the partnership with Giga and look forward to rapid market share growth utilizing the expertise of each of our companies.”
Giga Energy Founders, Brent Whitehead and Matt Lohstroh, commented, “This partnership with Atlas Power allows us to combine our strengths and expertise in flare gas mitigation and power generation to make a meaningful impact on the environment while supporting the growing bitcoin mining industry. We’re looking forward to a successful and sustainable collaboration.”