Shell Makes Move into Bitcoin Mining Industry

Business

Shell, one of the biggest oil and gas companies in the world, now aims to offer its cooling and lubricant solutions to Bitcoin (BTC) miners. Shell will sponsor the 2023 and 2024 Bitcoin Conferences, as the company has signed a two-year partnership with the Bitcoin Magazine.

Shell aims to provide carbon reduction alternatives to its customers. Darin Gonzalez, immersion cooling lead at Shell USA, said that one of the most important benefits of immersion cooling fluid is renewable energy and sustainability.

David Bailey, chief executive officer of Bitcoin Magazine, said that an energy major like Shell entering the Bitcoin mining space is a big win for Bitcoin.

According to an announcement from Shell, the conferences of Bitcoin will be attended by Shell’s representatives who are all set to speak on the mining stage about improving the energy costs of Bitcoin mining, with cooling and lubricant solutions of Shell.

Shell was expanding its product portfolio to offer immersion cooling fluid for the new data centers, which, according to shell, it accounts for around 1 percent of global electricity consumption. These new data centers are also used for Bitcoin mining.

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Shell is a global group of petrochemical and energy companies headquartered in London that includes Shell USA, a wholly-owned subsidiary of Shell in the United States.

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