Over the past five years ASE has secured multiple oil and gas leases throughout Texas and Oklahoma, and in recent times ASE has secured a number of assets which can provide low-cost energy to power and support Bitcoin mining operations. ASE has recently secured a stranded gas well in Kay County, Oklahoma, and the first stage of ASE’s Bitcoin mining project has been completed and is fully operational, incorporating:
- A well which is powering two generators
- A container (i.e. data center) that houses ASIC miners
The key factor in determining the profit potential of a mining operation is energy cost. If energy prices are too high, it could be necessary to shut down operations, until either the value of Bitcoin rises or until energy prices subside. Stranded gas mining, such as this project, mitigates many of these concerns. With a fixed, low cost of energy and an abundance of natural gas, this project has the ability to remain profitable during market downturns when many other mining operations would have to shut down, giving us a significant advantage.
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