Could MARA (formerly Marathon Digital) be in exploratory talks with Exxon Mobil and Saudi Aramco to colocate Bitcoin mining units at oilfields, directly tapping flare-gas for power?
Crypto Twitter thinks itโs possible, and if confirmed, the partnership could turbocharge the scale and legitimacy of gas-to-Bitcoin operations, turning waste methane into a monetized digital asset while addressing ESG concerns.
MARA stock pumper Cryptoklepto thinks, โIt is more likely than not that at least one of these scenarios plays out in the next 6 to 12 months for $MARA.โ
While none of the companies have formally announced a deal, MARA CEO Fred Thiel hinted at โdiscussions with some of the largest energy companies in the worldโ on Mayโs earnings call, adding that โchunks of flare-gas generationโ will soon come online where weโre able to deploy our Bitcoin mining operations.
The timing aligns with Aramcoโs May 2025 announcement of 34 new MoUs with U.S. firms and follows Exxonโs earlier pilot with Crusoe Energy in North Dakota.
Pilot-Proven, Ready to Scale
MARA isnโt starting from scratch. In late 2024, it launched a 25-megawatt pilot in Texas using stranded shale gas, avoiding grid competition while qualifying for methane abatement credits. โThe AI guys are prepared to pay almost any price for energy,โ Thiel told Reuters. โBringing crypto-mining to the raw power supply lets us avoid that fight.โ
The companyโs mobile, plug-and-play infrastructure is tailor-made for oilfields. These portable modules convert otherwise flared methane into electricity, which is then used to mine Bitcoin, a process that Exxon and Crusoe demonstrated at scale by diverting 18 million cubic feet of gas per month and cutting COโ-equivalent emissions by up to 63%.
Saudi Aramco has previously denied any intention to mine Bitcoin. In 2021, the company labeled such reports โfalse and inaccurate.โ
However, MARAโs Thiel recently claimed the firm has 4โ5 gigawatts of excess capacity, a scale that could power tens of thousands of mining rigs. If even a small portion were redirected, it would surpass the total output of many standalone crypto facilities.
Exxon, meanwhile, has the institutional memory and data from its two-year Crusoe pilot, which could make fast-tracking a new venture with MARA less speculative than it seems.
Why Now? A Confluence of Pressure and Opportunity
Behind the scenes, regulatory momentum is building. A U.S. methane emissions fee under the Inflation Reduction Act kicks in this year, pushing oil producers to find ways to reduce or monetize their emissions. Flare-gas mining offers a low-capex, high-upside path to compliance, particularly when paired with carbon offset markets.
Further, bills have been approved in Texas specifically to encourage Bitcoin mining using flare gas.
At the same time, Bitcoin miners are grappling with compressed margins following the April 2025 halving. MARA, one of the industryโs largest listed players, produced 950 BTC in May but must now aggressively pursue sub-$0.03/kWh energy sources to remain competitive. Flare-gas, once a fringe energy input, could become a post-halving lifeline.
Skepticism remains warranted. No SEC filings, public agreements, or official comments confirm the Exxon or Aramco partnerships. Given Aramcoโs past denial, any shift in stance would likely involve months of permitting, infrastructure build-out, and reputational calculus.
If oil majors greenlight Bitcoin mining at the wellhead, the flare-gas conversation will shift from โcan it work?โ to โhow fast can it scale?โ MARA, with its turnkey modules and Wall Street footprint, may be first in line.
What to Watch
Public filings or MoUs from Exxon, Aramco, or MARA confirming pilot collaborations.Energy regulator responses to flare-gas mining amid the methane fee rollout.Q3 production updates: MARAโs energy costs and BTC yield per site.Community pushback around noise and emissions from MARAโs Texas flare site.
โYouโre going to find is a mix of thermal, a mix of wind, solar and some flare gas. It really depends on the market and the partner.
Weโre in discussions with some of the largest energy companies in the world that have a mix of all those energy sources and nuclear.
In regards to flare gas, there are a lot of gas assets around the world that are very applicable to this methodโฆ
And what I think youโll see us doing more and more in the future is as we continue to work with especially oil and gas producers, youโll see chunks of this flare gas type generation come online in different parts of the world where weโre able to deploy our Bitcoin mining operations, as a way to monetize that stranded gas. And we are super excited about those opportunities.โโFred Thiel, MARA CEO
This story is developing. CryptoSlate will update as more details emerge.
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