Oil Companies Partner with Bitcoin Miners

Oil and gas, one of the world’s largest industries, converges with the magic internet money infrastructure, but bitcoin’s sustained market sales have taken some of the shine of these monumental partnerships. Even some cryptocurrency traders to ask sarcastically If energy is to be a new bullish story for Bitcoin, it’s bringing winds to fill its metaphorical sails as the leading cryptocurrency sits over 50% of its record prices at the end of 2021.

Kidding aside, the “energy narrative” for bitcoin mining is real and is gaining momentum as a growing list of mining companies and energy producers join forces. Evaluating the short-term price implications of these partnerships is beyond the scope of this article, but the long-term benefits for bitcoin mining as an industry and the broader bitcoin economy are enormous. This article reviews the partnerships that led to the merger between bitcoin mining and oil companies and provides some brief analysis of why these mergers are important.

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