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Natural Gas Slump Drives Producers to Bitcoin - The Wall Street Journal

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Natural Gas Slump Drives Producers to Bitcoin

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Natural gas producers are suffering from low prices. Chris Alfano believes bitcoin can be the solution to their problems.

Alfano, 29 and a self-described "spreadsheet guy," bought his own gas wells outside of Fort Worth, Texas during the pandemic and mines bitcoin with the fuel from them. Now he's charging other gas producers to teach them how to do the same.

Many producers have recently been selling a thousand cubic feet of gas for $1.50 or less. By burning their gas to mine bitcoin instead, they can make $10 or more for the same volume—albeit with some complicated financial risks.

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