Are oil and gas companies entering the mining market?

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Ultramining.com

10:29 Nov 05, 2022

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Are oil and gas companies entering the mining market?

The situation in the sphere of cryptocurrency mining is not simple. Large miners are losing positions and even starting bankruptcy proceedings. But on the other hand, there are powerful participants in the market. For example, companies from the oil and gas industry.

According to Charles Edwards, the founder of Capriole Investments, the emergence of such players is associated with a new record of BTC hashrate. He wrote about it on his Twitter, where he urged not to resist the trends.


Source: Twitter

The users started a discussion noting that in this case, only those miners connected with the oil or gas industry will remain in the market. Edwards responded by saying that this was the future of mining.

Roman Kaufman, the co-founder of Weezi, also agreed with this position. He is confident that it will benefit oil companies because they can have additional profit from mining.


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