Oil producer denies reports on Bitcoin mining because miners earn almost $ 1 billion
Oil producer denies reports on Bitcoin mining because miners earn almost $ 1 billion
- Aramco denied in a statement to enter the Bitcoin mining business. The oil producer claimed that the reports were "completely wrong and inaccurate".
- his rejection takes place in the middle of the increasing interest in the business with a new report, which says that the miners deserved around $ 970 million in July.
At the weekend there were numerous reports that one of the largest oil producers would like to get into the Bitcoin mining business. According to these reports, Aramco should look for ways to use gas vicinity products for the breakdown of Bitcoin. Gases that arise during oil production can be used for the power supply of mining farms and data centers.
Since both companies are heavily criticized because of their environmental impacts, such a procedure could alleviate the effects or at least ensure efficiency when using raw materials. According to Raymond Nasser, head of the mining company at Wise & Trust, the gas burned by Aramco can only supply half of the Bitcoin network.
Unfortunately, this may not be the case, at least not yet. Aramco categorically rejected the recent claims on Monday. In an explanation, the oil giant clarified its position and explains that the reports were wrong and imprecise. Partly es ;
With reference to the latest reports in which it is claimed that the company will initiate Bitcoin mining activities, Aramco confirms that these claims are completely wrong and inaccurate.
The developments come in the middle of the growing interest in the crypto mining business. A few months ago, due to the Bitcoin mining reaching in China, a drastic decline in the hash rate occurred, which in turn led to a price crash. Since the miners move into more crypto -friendly regions. In addition, other foreign companies have doubled their investments to keep up.
The Bitcoin mining activity is increasing
With the comeback of the industry, data from Block research has shown a steady increase in the revenue of the miners. According to the study, Bitcoin mining revenue climbed to just over $ 970 million in July, from $ 839 million in the previous month. However, this is still far from the all-time high of $ 1.75 billion in March. This was only a few weeks before Bitcoin (BTC) managed to reach its all -time high of $ 65,000 in March.
As CNF reported, the Bitcoin Hash rate recently increased after weeks of decline due to the increased mining activities after the resettlement of the Chinese miners. Although experts have pointed out that it will take months before the hash rate has reached the level before going on, the network is intended to experience a complete comeback.
Read more: The difficulties in bitcoin mining probably rise for the first time since the procedure in China
Source: Crypto-news-flash.com
Kommentare (0)