A meeting in Houston’s car warehouse was a meeting point for oil and bitcoin miners to discuss possible crypto-mining options on the spot last week. More than 200 investors attended a conference to discuss an alliance that would make it possible for oil producers to manage their resources more effectively, while miners could benefit from direct energy sources which would otherwise be wasted.

Oil producers and miners are meeting to discuss Bitcoin Miners

Last week, several petroleum producers and Bitcoin miners met in Texas to discuss the opportunities Texas energy producers can offer onsite mining. The meeting, which took place in an automobile warehouse in Houston, was a meeting point for studying the possibilities. Oil wells that are not so large for the construction of pipelines usually burn the pockets of natural gas on site.

Nevertheless, mining by bitcoin (BTC) is more effective. This natural gas can be used to feed micro mining operations into generators in every well. This arrangement would benefit miners as well as producers and also the environment, as this gas must not be burned to release it into the atmosphere. Parker Lewis, a member of the people who organized the meeting, told CNBC that he trusted the meeting’s success.

He stated:

“I just knew Houston would be prime to explode because of the energy connection to mining – if we organized a good meetup.”

Griffin Hayden The amalgamation of these two worlds is the product of Haby III. He’s an oilman who’s a bitcoin miner as well. Haby said he just had to jump into the bitcoin car when he saw the return of a bitcoin mining operation.

Griffin Hayden Hayden Haby III is the product of these two worlds’ amalgamation. He’s an oilman and a bitcoin miner as well. Haby said he had to jump into a bitcoin bandwagon when he understood the return of a Bitcoin mining operation. 

He stressed:

When I heard that you could make this much money for gas instead of just burning it up into the atmosphere, thanks to the whole ‘bitcoin mining thing,’ I couldn’t look away.

Taking Advantage of China’s Ousting

One of the primary objectives of Texas oil workers is to capture the many mining entrepreneurs from Bitcoin who still seek to relocate from China after they have been dropped. Alejandro de la Torre is one of the miners still carrying mining plants from China to the United States. He stated that those miners were waiting for delivery to ports in several Pacific ships.

But many of these agreements are secretly concluded and not publicly disclosed. Oil producers and miners are meeting to discuss bitcoin miners. Some deals will be protected by non-divulgation agreements and other players in space will simply not talk about their relationships as it will give competitors an advantage in space.

Source: Cryptobraking

Tezos Tokenized Products To Be Offered By Cryptocurrency Firms In Switzerland

shutterstock 1930096286 E70I5D

Nigerian Central Bank Wants Financial Institutions to Develop Products Based on Its CBDC

The Central Bank of Nigeria has said it wants players in the country’s payment industry to develop and help introduce products based on its central bank digital currency, the e-naira ...
Read More
shutterstock 1254046900 AvhSW0

Study Finds Most Popular Cryptocurrencies With Russian Social Media Users

In a year with rising crypto prices, online chatter devoted to cryptocurrencies has increased significantly. Research carried out on Russian social media has identified the most talked about coins and ...
Read More
shutterstock 1018406887 ENtmd6

Immersion Cooling Gets Attention From Miners Wanting to Squeeze More Power Out of Equipment

Bitcoin mining companies are now increasingly experimenting with immersion cooling, a form of cooling that allows them to get more hashpower out of existing miners. According to industry insiders, this ...
Read More
zztoppp777890 lNjZXt

Political Cartoonist Accuses NFT Platforms Opensea, Rarible of Being ‘Tools for Political Censorship’

While non-fungibe token (NFT) collectibles have been very popular, NFTs have brought a slew of unique debates to the table and one of them has been censorship. The artist behind ...
Read More
photo 2021 11 28 22 30 35 nPUrIs

Study: 8.3% of Polled South Africans Own NFTs, a Further 9.4% Plan to Buy

About 8.3% of polled South African internet users own NFTs while a further 9.4% said they plan to acquire such tokens in the future, a study has found. Twelfth-Highest NFT ...
Read More
Share with Others