Don’t be fooled by the news, the bitcoin price and stock market is stabilizing and natural gas stores are more than full. We may be past the worst days.
Find out how DenverBitcoin’s previous exposure to the oil and gas industry led him to see the potential for waste reduction while participating in the bitcoin mining industry.
Russia’s Ministry of Finance is ‘actively considering’ the use of digital currencies for international payments, a government official reportedly said.
“Last year was not profitable for many miners,” said Hut 8 CEO Andrew Kiguel. “[But] we believe that bitcoin is the future of digital money and that our work is crucial."
In a handful of oil fields in the Great White North, natural gas, an otherwise wasted drilling by-product, is being put to work. But it’s not being used to well more oil; it’s being used to mine bitcoin.
Many Chinese cryptominers have migrated to places with cheap electricity and favorable policies as a result of the escalated government crackdown on cryptocurrency and its production process. Since late 2018, the oil-rich Middle East country of Iran has become a hotspot for Chinese miners.