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THE INTERSECTION OF COMPUTING AND SUSTAINABLE ENERGY

24 June 2024

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In today's digital world, the need for compute power is skyrocketing. From processing data for artificial intelligence to supporting blockchain transactions, compute power is the backbone of our modern economy. Commercial data centers currently account for over two percent of the world's electricity consumption. As global data traffic continues to double approximately every four years, supplying power to and improving energy efficiency in these centers is essential to controlling costs and mitigating environmental impact.
The expansion of digital technology and the internet will sustain the increasing demand for data centers. Bitcoin mining, a significant subset of data center operations, presents a lucrative revenue opportunity but also needs a clean, low-cost power supply. Natural gas suppliers are well-positioned to meet this demand by providing a reliable source of electricity. At the same time, the energy industry, especially in Canada, is dealing with the challenge of surplus natural gas that is often stranded as a result of abandoned gas wells that are shut-in due to lack of commercial viability. In other cases the wasteful..
But what if there was a way to turn this unused energy into something valuable? A way to benefit marginalized communities and create a sustainable circular economy! That’s where PermianChain steps in!
Understanding the Synergy
At its core, PermianChain creates a link between stranded energy assets and the growing demand for compute power. Here’s how it works:
  1. Capture Surplus Energy Assets: Many oil and gas projects in Canada produce more natural gas than can be economically used or transported. This surplus gas often ends up being left behind or burned off, which is a waste of valuable resources and in the case of flaring, harmful to the environment.
  2. Transform Energy into Compute Power: Instead of flaring the gas or leaving it stranded (which creates an added financial liability), PermianChain makes it economically viable for this gas to be converted into electricity. This electricity then powers critical infrastructure for compute cluster applications such as edge computing for blockchain and artificial intelligence,that require vast amounts of compute power. Essentially, what was once waste or liability is now a commercially viable asset that creates value in resource finance and sustainability by fueling the digital economy.
  3. Generate Revenue: By using surplus gas to generate electricity, oil and gas producers can create a new revenue stream and solve most if not all of their immediate natural gas challenges. This process not only turns a liability into an asset but also supports the growing demand for sustainable energy sources.
Why This Matters for Canadian Suppliers
PermianChain integrates cutting-edge technology with the energy sector to assist Canadian oil and gas producers in monetizing surplus gas, managing energy more efficiently, supporting renewable energy investments, complying with regulations, and accessing new digital markets. By leveraging modern technology such as blockchain and advanced financial strategies, PermianChain helps producers turn environmental challenges into profitable opportunities, paving the way for a more sustainable and economically viable future in the energy sector.
For suppliers in Canada’s energy sector, the benefits of integrating PermianChain’s solutions are clear:
  • Maximize Resource Utilization: Instead of wasting surplus gas, you can transform it into electricity and contribute to the booming compute industry.
  • Boost Profitability: The electricity generated can be sold to mine digital assets or power compute clusters (mobile and modular data centers), creating a new and steady stream of income.
  • Environmental Compliance: Reducing flaring and addressing the stranded asset liability aligns with stricter environmental regulations and can contribute towards more sustainable practices.
Understanding the Mechanics of How it Actually Works
Let’s say you have an oil or gas wellsite in Alberta producing more gas than your capacity to use on site or take away. Traditionally, this excess would be burned off, wasting potential revenue and creating environmental impact. With PermianChain, you can set up a system to convert that surplus gas into electricity on-site. This electricity could then power a data center or be sold to digital asset miners via PermianChain’s digital energy market for use on-site. Now, instead of flaring off the gas, you are generating digital assets or providing essential compute power to third-party digital asset miners via PermianChain—turning waste into profit [or a liability into an asset]
PermianChain simplifies the process by offering:
  • Smart Off-Take Agreements (SOTA): Streamline energy sales and ensure compliance with regulations.
  • Blockchain Integration: Use advanced technology to create transparent, secure and efficient energy trading.
  • Energy Resource Management: Manage your energy resources through our digital platform, making it easy to sell energy and generate revenue.
In a nutshell…
  • Surplus gas can be transformed into electricity instead of being wasted.
  • Electricity from surplus gas can be sold to power data centers and digital asset mining, creating revenue.
  • PermianChain provides the tools to match producer suppliers with data mining consumers, to manage and monetize surplus energy effectively.
As the demand for compute power continues to grow, the ability to efficiently use surplus energy to meet that need will become increasingly valuable. PermianChain stands at the intersection of these two growth drivers of the energy transition, offering a practical solution that benefits both the energy and tech sectors.
By harnessing the potential of your surplus gas, you can not only enhance your profitability but also contribute to a more sustainable future. PermianChain provides the tools and technology to make this transition seamless, turning your energy into a powerful driver of the digital economy.

Explore how PermianChain can help you turn your surplus energy assets into wealth:  https://supplier.permianchain.com