Today, Monday, Saudi Aramco denied what was recently circulated about its intention to enter the activities of the “Bitcoin” digital currency.
The Saudi Al-Arabiya channel quoted the company as saying that these allegations are completely false and untrue. This is in response to reports that the Saudi oil giant is planning to use the excess gas left from oil production to mine Bitcoin.
The mining process represents the release of new bitcoins into circulation, as miners verify transactions on blockchain records; To help avoid fraud, and as a reward, they are given new bitcoins.
To verify transactions, miners must solve very complex math equations, primarily by trial and error, which requires complex computer systems and a great deal of computing power. This computing power consumes a lot of electricity
The "Bitcoin" currency has become a major attraction for large capitals after the electric car maker Tesla and the American MasterCard entered the line of dealing with it, despite the state of mistrust that controls it in many countries.
Bitcoin or other cryptocurrencies are not considered a recognized method of dealing in many countries of the world, especially in the Gulf countries.
Recently, Bitcoin approached 40 thousand dollars, after speculation that the online selling giant "Amazon" would enter the market of its dealers.
And "Aramco" is the largest oil production company in the world and produces more than 10 million barrels of oil per day in normal conditions, and it is owned by the Kingdom's government.
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