Last week, Bitcoin miners and oil producers met in Houston to discuss the possible opportunities for on-site digital mining. They meet in-vehicle warehouse, which served as their point of encounter to examine these opportunities.
The meeting had over 200 investors in attendance to deliberate on an alliance aimed at favoring both parties.
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The alliance would enable oil producers to manage their resources more efficiently and allow miners to utilize direct energy sources.
Miners And Oil Producers Talks On Bitcoin Mining
The discussion between both parties centers on the viability of the on-site mining that Texas energy producers will offer them. Oil wells that aren’t big enough to accommodate pipelines in their operations burn all-natural gas pockets met on site.
However, BTC mining provides a better option. This natural gas that is burned can power generators that feed micro mining operations in every well.
This arrangement will make the wasted natural gas to be useful and benefits both miners and oil producers. It will also benefit the environment as there is no need to burn these gases and pollute the atmosphere.
Parker Lewis, one of the organizers of the meeting, affirmed his confidence in the success of the meeting to CNBC. He stated that Houston would be the major place to explode due to its energy connection to mining. This would be possible if we organize a successful meetup-he added.
The two worlds amalgamated to form a product named Hayden Griffin Haby III. He is a bitcoin miner as well as an Oilman.
Harby explained his joining of the bitcoin bandwagon when he acknowledged the comeback of the bitcoin mining operation. He stressed that he was thrilled when he heard about the big amount one can make from gas instead of burning it.
China’s Ousting
The Oilmen targets to capture the various entrepreneurs mining bitcoin who wish to relocate their activities after China ousted them. Alejandro de la Torre is among these miners that still ship mining rigs to the U.S. from China. He explained that these miners reside in various Pacific ships awaiting their delivery to ports.
However, a lot of these schemes are secretly done and remain non-disclosed to the public’s eyes. Some of the ideas are even protected via nondisclosure agreements as they may give an edge to the competitor in the same sector.
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Exposing these ideas may either make the original one no viable as competitors could improve on it. The act can also attract too many competitors making the originator of the idea lose value and stability.
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