Bitcoin Mining Initiative From Oil Giant Shell?

Good news for the crypto markets, which have been shaken by the FTX crisis. Giant oil company Shell will launch a Bitcoin mining venture.

According to the news of Bitcoin Magazine, Shell, one of the largest oil companies in the world, will launch its own Bitcoin mining initiative at the Bitcoin conference to be held in Miami in 2023. In addition, Shell signed a two-year deal with Bitcoin Magazine to sponsor Bitcoin conferences in both 2023 and 2024. In the news, it was stated that Shell will take part in the mining scene at the conference in 2023, where it will introduce solutions that will reduce the energy cost in Bitcoin mining.

Shell announced in August that it would expand its services to immersion cooling solutions for data centers. The company stated that at that time, formations such as data centers in Bitcoin mining had a share of 1 percent in global energy consumption, and one third of this was obtained from cooling solutions.

David Bailey, CEO of Bitcoin Magazine, said:

“The entry of an energy giant like Shell into the Bitcoin mining industry is a huge win for Bitcoin. The number of companies that are realizing the impact of Bitcoin on their business will continue to grow. Shell will be just one of many large companies that we will see implementing a Bitcoin-facing strategy in the next few years. “

The Bitcoin conference in Miami will take place May 18-20.