Tue. Apr 16th, 2024

Shell, one of the largest oil producers in the world, is venturing into the Bitcoin mining industry, being one more oil company exploring this sector that at first seems far from its field. The news was published by Bitcoin Magazinea portal founded in 2012 by Vitalik Buterin and Mihai Alisie, which closed a two-year partnership with Shell to sponsor the next two annual Bitcoin conferences.

Shell Introduces Bitcoin Mining Solution

Since the efficiency of mining equipment is the main concern of miners, immersing ASICs in coolants can be a solution. After all, this technique allows for better computer performance. In addition to a more stable environment, it is even possible to get an improvement in the hash rate, that is, more profit for the miner. With this, Shell’s lubricants unit will be exploring this potential sector, offering fluid immersion solutions as it already offers to other industries such as data centers.

“Shell Lubricants is committed to providing customers with carbon reduction alternatives and one of the most important benefits of immersion coolant is sustainability and renewable energy,” said Shell’s Darin Gonzalez.

Another of the improvements offered by the immersion technique is related to the noise emitted by the equipment. Some cities, for example, have already wanted to expel large miners for this inconvenience, but immersive mining can be a silent answer.

Shell is not the only one interested in mining

Besides Sheel, Exxon Mobil is another giant oil producer that is taking advantage of Bitcoin. In March of this year, the company announced that it would use excess natural gas to fuel Bitcoin farms. In other words, mining is helping the environment, turning material that would otherwise burn into an energy source that contributes to the security of the world’s largest decentralized currency. Finally, more and more companies away from cryptocurrencies are finding solutions in Bitcoin. After all, even in the last week, the protocol continues to function normally, as it has for the last 13 years.

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By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on wttspod.com for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.