GTherm to use low-cost power for Bitcoin and crypto data centres
The GTherm technology can also lead to the generation of net-zero low-cost bulk hydrogen.
GTherm, a US-based company that develops and generates geothermal energy, announced its GTherm Comprehensive Energy System (GTSystem) as a low-cost energy providing solution for data centres serving the bitcoin and cryptocurrency markets.
The GTSystem uses both CO2 sequestration and absorption for non-stop power, ideal for cryptocurrency data centres.
The data centres depend on the constant flow of low-cost electricity to computers and other machines. The GTSystem is off-grid, eliminating grid authorisation and connection delays. The technology uses carbon capture and sequestration, which can help achieve low-cost net-zero energy for the data centres. It also minimises the risk of production outages caused by a polar vortex or other unpredictable events, enabling reliable power generation for Bitcoin and cryptocurrency data centres.
The GTSystem generates clean baseload electricity by implementing power generation on oil and gas reservoirs and sequestering CO2 from power generation in the oil reservoir as the oil and gas are extracted, thus contributing to EOR (Enhanced Oil Recovery). There is no gas flaring (the gas is used for power generation), and oil extraction does not use hydraulic fracturing.
The low-cost power is achieved using the following:
- CO2 sequestration credits
- CO2 absorption credits
- Carbon credits
- Elimination of electric distribution costs
- No line losses
- No backup generators
- Geothermal cooling
- No harmonic distortion
As an option, a portion of the clean electricity can be used to effectively produce net-zero low-cost bulk hydrogen using electrolysis (no CO2 generated). The hydrogen can then be used in place of natural gas and gasoline diesel fuel.