EZ Blockchain, a Chicago-based blockchain technology service company, has reorganized its business into two companies.

As a result of a spin-off, a new power generation business will be called EZ Energy Technologies, Inc., or EZ Energy.

"The transition separates their work in power generation and flare mitigation from the blockchain mining business," the company said

"One of the primary objectives in branching EZ Energy off is to diversify the applications of the company's affordable energy sourcing maximizing technologies in sectors outside of cryptocurrency," the company said

Following the separation, Vlad Rodinoff, founder of EZ Blockchain will take the position of CEO at EZ Energy, and Sergii Gerasymovych will assume the position of CEO at EZ Blockchain.

EZ Blockchain, LLC and its executive team will remain the largest controlling shareholder of the EZ Energy business.

EZ Energy company anticipates the deployment of 9 MWs of its own power generating units, called SmartGrids, through the end of 2020.

Sergii Gerasymovych said, "There are other applications to use gas-generated power right on-site on the oil pad. None of that energy has to be wasted anymore with our combined technology. This energy could be used on-lease as prime power for oil and gas producers in addition to powering our mobile data centers."

EZ Blockchain's original services were designed for cryptocurrency mining, primarily manufacturing mobile data centers known as "Bitcoin mining containers" along with the management of crypto mining facilities. Since the installation of EZ Blockchain's first mining mobile data Smartbox in 2018, EZ Blockchain has funneled much effort into an initiative aimed at harnessing wasted energy by reducing gas flaring.

The energy project started with a partnership with KTS Engineering, the official distributor of Jenbacher electric gas generators, to give oil fields a viable and scalable option to turn excess natural gas into usable energy which otherwise goes into flares and wasted.

"In two years since the installation of the first mobile data center in Indiana, EZ Blockchain's energy project has grown in scope. The mobile data centers have been designed to be oil field ready and to meet additional requirements of efficiency and remote operation. The new 'EZ Smartboxes,' coupled with EZ Blockchain's hugely positive footprint around the Midwest mobile data center locations, spurred the final decision to branch this energy effort into its own business line," the company said

Tags:
Blockchain   Cryptocurrency   Texas   Innovation  

Comment on this story


ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com
TPV-SALES-EXECUTIVE -- Back Office Provider -- Other
Sr-Market-Risk-Analyst -- Wholesale Supplier/Trader -- New York - New York City Metro
Energy-Regulatory-Specialist -- Other -- Other
More Stories on RetailEnergyX.com:
Company Seeks Texas PUC Approval For 'HVDC' Converter Facilities Connecting ERCOT With WECC Grid
ENGIE Files Complaint Against ERCOT '
Energy Shopping Site Names 2021 'Best Texas Electricity Providers'
Texas Retail Provider Named 'Best Electricity Company In Houston'
Release: 'Most Trusted Brands' Among Texas Retail Electric Providers Named