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Saudi Aramco says that they will not start mining Bitcoin

Saudi Aramco is a Saudi company dedicated to oil, gas and petrochemical products, employing 76,000 people worldwide and is the third largest market capitalization company in the world, after Apple and Microsoft. Some media had talked about his foray into crypto mining, however, today they declared to the media to put out the rumors and clarified that they are not contemplating entering the Bitcoin mining market.

Saudi Aramco says that they will not start mining Bitcoin

Saudi Aramco says that they will not start mining Bitcoin

These were they words, brief and forceful, in a press release of just one sentence:

“With reference to recent reports claiming that the Company will engage in Bitcoin mining activities, Aramco confirms that these claims are completely false and inaccurate.”

As reported by

  • Finbold
  • , who started speculation that the largest oil company in the Middle East was interested in Bitcoin mining, according to Investing.com, was information provided by Brazilian Bitcoin miner

  • Ray Nasser
  • during an interview on the YouTube channel Bitconheiros.

    Read more:

    In summary, the report claimed that instead of disposing of oil mining by-products, Aramco could employ it for profit-making activities by extracting digital assets using surplus gas from oil extraction.

    Bitcoin, which yesterday had achieved prices above $42,500, its highest value since May 18, today is down and has a price of $39,712, 4.36% less than yesterday at the same time.

    As for the Saudi Aramco rumor, it is important to note that this company has had practically no approach to the crypto world. According to our files, there is only one investment data in Vakt, a Blockchain for the oil exchange, in January 2020.

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