From flare gas to digital currency; A way to break the barrier of Iran sanctions

According to the exclusive report of “Energy Press”, Iran burns it in burners every year as much as the volume of its gas exports. While instead of burning, this national wealth can be used to bypass sanctions by turning the gas from the burner into electricity and then extracting digital currency.
A great waste of national wealth in torches and burning opportunity
Burning petroleum gases in burners, in addition to wasting energy resources, has serious environmental consequences. Emissions of greenhouse gases, air pollution and climate change are among the consequences of flaring. This phenomenon also harms the health of residents of oil-rich areas.
While many neighboring countries are looking to reduce flaring and optimal use of gases associated with oil, Iran still faces serious challenges in this field. Countries like Qatar and Saudi Arabia have succeeded in significantly reducing flaring with large investments and use flare gases to produce electricity and petrochemical products.
Despite all the problems caused by flaring, this phenomenon contains valuable opportunities. Flare gases contain valuable compounds such as ethane, propane and butane, which can be used as feed for petrochemical industries and electricity generation.
One of these opportunities is generating electricity and using it to mine cryptocurrency. Considering the high need of energy for cryptocurrency mining, cheap electricity produced from flare gas can be used for this purpose.
Bypassing sanctions using flare gas
In a situation where sanctions have blocked Iran’s oil and gas revenues, extracting digital currency from flare gas is definitely considered a golden opportunity. This experience has been successful in countries such as the United States and Argentina and has shown that the conversion of flare gas into digital currency is a profitable process.
On the other hand, countries under sanctions such as Venezuela and Russia have also used digital currency many times for their oil and gas transactions in order to bypass sanctions restrictions and prevent their currencies from being blocked.