Bitcoin mining was often criticized for its huge energy consumption. However, in his podcast, Marty Bent, the author of the very successful articles about Bitcoin, said oil companies will deal with mining. According to him, this should help with waste reduction on both sides.
Oil companies: Bitcoin mining will reduce energy consumption
Bent first shared this prediction on his blog. He revealed that he has been working with a huge oil-driven mining company for over a year, which deals with oil-driven by-products of crude oil processing.
This company is called Great American Mining and so far the biggest burden is byproduct ever to get. However, several barrels have already been shipped. Bent later said it was the first step to penetrate a closed business like the oil and energy business.
In a podcast he said:
What we are trying to achieve in Great American Mining is to make these oil and energy companies understand and realize that they should invest in us and build a mining infrastructure with us right on their fields. They can thus be much more efficient and make better use of by-products, such as those produced by gas extraction. Bitcoin can earn them a lot.
What do you think? Will oil companies benefit from BTC?
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