BTC Mining Update 09/07/2021

Mining
Written By Francisko Kim

Last week in Houston, gas and oil executives along met with bitcoin miners to discuss their quickly colliding worlds. 

A big topic was using stranded/leftover natural gas to power mining rigs. Opportunities opened up with the mining ban in China. One commonly occurring issue with oil mining is accidentally hitting pockets of gas. This gas must be sold on the same day otherwise it’s usually “vented” into the air. 
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With the recent surge in interest, more people/institutions are competing to mine bitcoin. BTC mining currently consumes more electricity annually than all of Finland and now contributes almost 0.5% of all electricity consumption. (10x jump from 5 years ago).
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Bit Digital signed a co-mining agreement with Blockfusion USA. The agreement includes Blockfusion providing certain locations and services to Bit Digital to operate a 35 MW bitcoin mining system.
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A significant number BTC miners may be selling off their earnings. View full article.

Francisko Kim
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