Adoption of Bitcoin Mining by Oil companies
The pandemic the price of the oil is sharply falling down which is have a bad effect of the economy of the many companies. However the corona virus is not controlling by the world no one has the found any specific solution to this problem which is very critical these days , The only thing in these days are left for the positive profit is the miners of bitcoins which is time power consuming but its it all automatics and no labor work is needed in this work only it take time but the profit is confirm in this process .
Bitcoins miner get rewarded with the solving of the algorithm on the blockchain transactions when they solve the block they get rewarded and the transaction is very secure , which is keeping the track.
As the whole world is struggling to the economic crises the there is no solid news about the lockdown ending and it’s no one is also expecting that it will end soon, things are getting more destabilized, Most of the companies are turning to the mining of the bitcoin(BTC) Which will help them secure their assets up to some extent. They prefer run miners as they are mostly facing big amount of loss in their current business.
He suggested that the oil fields across the continent, which waste a lot of byproducts that could otherwise be consumed and turned into value, and also those which need to bolster their revenues, need to take advantage of the Bitcoin mining industry.
According to Marty Bent, He said that the oil and gas company should start bitcoin mining to increase the revenue this can be more helpful than any other business to complete their loss and to make it running business as they are already looking for an alternative way of income instead of gas and Oil.
They are also expecting that in future the bitcoin price is going to be more and bitcoin will bullish price so we can take more advantages from this solid coin and this is also the future of the world.
The main reason for the bullish market will be the upcoming halving because this will decrease the production of the new coins by half , So bitcoin mining will be more expensive , when the supply is decrease and the demand will be much more the price of the market will be bullish and it is possible that the price touch the all time high very soon . The Next Year can be very helpful for the bitcoin and the future should be very promising.