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Bitcoin Mining Farm Tour at a Texas Flare Gas Site - Featuring @YourFriendAndyTwo Texas A&M University former students found a way to mine $4 million worth of Bitcoin using flared gas, a byproduct of oil and gas production. Crypto flaring gas mining is the process of transforming excessive natural gas into energy to mine cryptocurrency or virtual coins. The stranded. Bitcoin mining is emerging as the superior technology for reducing natural gas flaring. Flaring exists due to difficulties in taking natural gas.