Traditionally, flare gas is either directed to facilities for conversion into useful resources like electricity or released into the atmosphere, contributing to pollution. Iraq, home to many remote oil fields, has long grappled with the challenge of managing flare gas, often leading to environmental degradation.

The Rumaila oil field in Iraq stands as the world's largest producer of toxic flare gas. While efforts are underway to capture and repurpose up to 60% of this gas, the ultimate goal is to eliminate all gas flaring in the country by 2027.

Innovative approaches, such as those employed by Bitcoin mining firm Giga in Texas, offer a glimmer of hope. By harnessing flare gas from local oil fields to power portable mining rigs, companies like Giga demonstrate the potential for profit while mitigating environmental impact.

In Iraq, the scale of the challenge is immense. Converting 100% of flare gas pollutants into usable electricity requires extraordinary efforts. However, leveraging captured flare gas for Bitcoin mining presents a compelling opportunity. Not only could it alleviate domestic energy demands, but it could also generate additional revenue to address foreign debt.

Furthermore, exploring carbon credit markets presents another avenue for utilizing energy from captured flare gas. By selling carbon credits via blockchain technology, Iraq could demonstrate its commitment to reducing carbon emissions while tapping into a potential revenue stream. These initiatives showcase the transformative power of innovative solutions in addressing environmental and economic challenges.