I'm tired of listening to FTX and Binance drama these days and finally here's some good news.
The ecological imbalance threats of Bitcoin mining were the reason Bitcoin adoption becomes slow and it comes to mining and good thing it becomes green Bitcoin mining now and this big company firms find a solution to this which is totally good news.
Let's hope other big companies will find another green solution of mining Bitcoin, this is a good step in Bitcoin adoption which start with a green process.
That's what I'm hoping for, the big companies will start to get interested with bitcoin and mining and other stuff related to cryptocurrencies. Because with their resources, they can contribute a lot and also give opportunities to many enthusiasts out there if they're needing a helping hand just to step and get started on it.
People still assume that Shell is purely an oil company, but the reality is that all these oil companies have a million other investments and renewable energy is one of them. You think they would only invest into oil and hope that oil will make them profit forever? They are obviously aware that they need to go towards renewable energy because the whole world is going there, which means they could also help bitcoin mining world by making it self sufficient as well.
It's one of the steps they are taking, in my nation there is a huge investment to wind turbines, there is like 750 of them owned by shell and that's A LOT OF wind turbines, 750 is not a small amount, that could power an entire city of 1 million people if I am not wrong, could be even more, it's really huge investment.
Typically, big companies like Shell are diversified and they understand that the only thing that's constant is change. And that's why they're very flexible and adaptable to the changes that's happening not just on their industry but also in the others that we may see them interested too. They can really help the miners on this case especially when a lot of critics keeps on talking about renewable energy and bitcoin mining is one of the culprits of cutting of energy and it consumes a lot of it. As you've mentioned wind turbines, in what country is that?
They are the first to do this and hope that it will be a good result once they implement their plans. Looks like the problem of power consumption for BTC mining is going to be solved in the next years because after Shell will show positive results about this, I'm sure the others will follow it as well just like how the payment apps nowadays become crypto wallets as well. Maybe for others, this is not a smart move by Shell but to be the first to help the miners means getting more clients first and also being the first one to acquire huge profits from them.
Those that don't see this as a good news and not smart, I think that they're missing the whole thing. There is the essence for being the first in everything. And as an oil and energy company, Shell is the first one to show this type of interest that's actually taking place and doing the thing, not just all about plans.
Lets hope they use the gas that is flared at source to generate electricity, and use that to mine Bitcoin. That seems better than just wasting the energy by warming the atmosphere.
Hope so, I guess that they would be generous to share those to the miners.
All the rhetoric of reducing emissions and making mining more sustainable is lovely. Moreover, Shell is a huge company, so it's a big deal for Bitcoin publicity and increasing popularity (if only it weren't overshadowed by FTX, of course). That being said, I think what we're seeing here is greenwashing. Shell is a gas and oil company, a company doing business precisely in the things we should be abandoning. Moreover, in
a study of greenhouse gas emissions between 1998 and 2015, Shell was #9 on the list of companies with highest impact, accounting for 1.67% of global industrial emissions.
Bingo! You nailed it about the publicity that bitcoin is getting with this step made and done by Shell. Although there's the fact that they're one of the biggest emissions for greenhouse gasses. At what rank they're right now? I just wish that they're able to take the call for lesser emission through solutions that they've discovered and made and which is going to be offered to the miners.
this is truly excellent news! 5 years ago this would be unthinkable. It is only proof that Bitcoin is gaining streght and new solutions for mining will start appearing fom the companies that we would never be waiting for.
I hope that after shell other energy companies will follow.
Every year and cycle that passes by, there's always the new trend and adoption that's happening for bitcoin and we all are liking it. And with this through Shell, this is just one of it and I'm sure that there's more to come for the next years.
I wonder whether this will be the future of Bitcoin mining, hash power in the hand of a handful companies that have access to tonnes and tonnes of money and energetic resources.
Sure, we all still can solo mining or join to a pool, the pools themselves are an evolution within the mining ecosystem, I just wonder if companies like Shell will fairly compete against pools for the blocks or they will use their money to lobby against the pools and the right of the people to decide whether or not to participate in a pool.
It would be bad if in the future the hash power is mostly controlled by a few oil companies, which would respond to the orders of the usual politicians.
As of now, they're not yet there but it's very likely that they'll also join the miners and have their own bitcoin mining facilities built. They're already at their advantage for having it built because they'll have no issues with power and it's possible to happen because they have no problem with funding and investments and of course, the power.
