Workshop topics

MOTRAN organizes a workshop on cryptocurrency and bitcoin mining

Increasingly, oilfield sites in the Permian Basin are hosting bitcoin mining alongside pumping units and natural gas processing plants.

The increase in bitcoin mining operations in the Permian Basin has increased so much over the past six months that the MOTRAN Alliance decided to hold a workshop on cryptocurrency and bitcoin mining. The workshop will take place at the Petroleum Museum on May 4 from 11 a.m. and should last until 1 p.m.

“It’s part of the future,” MOTRAN president James Beauchamp told The Reporter-Telegram in a phone interview. He said he had recently attended major conferences on cryptocurrency and bitcoin mining and that the Permian Basin was discussed at both events. Large US companies and even foreign companies are moving into the Permian, he said.

“One of the things we’ve done with the coalition is to educate and inform people,” Beauchamp said. He said the workshop will dive into the subject “good, bad and indifferent”.

One topic will be how bitcoin miners can help oil and gas operators reduce their environmental footprint by using wellhead gas or gas that would otherwise be flared because it is not pipeline grade or in due to a lack of transport capacity.

This will be the topic of Kat Galloway, CEO of Artemis Energy, a bitcoin oil and gas mining company whose goal is to reduce emissions in the oilfield through bitcoin mining integration.

Cole Harrison, business development manager for Baseline Energy Services, a nationwide natural gas generator rental provider, will discuss off-grid mining with natural gas generators.

Paul Cockerham, who currently manages Fortress Energy’s mined assets as an operations engineer and Verde Mining’s flare gas bitcoin mining, will explain how Bitcoin serves Midland. He has been active in cryptocurrency investing and mining since 2017.

“We’re not trying to convince people to convert their 401Ks into cryptocurrency,” Beauchamp said. “We want to understand cryptocurrency.”

He noted the growing demand from bitcoin mining on the state’s power grid and said the development could, “One, be a disaster, or two, have a dynamic positive impact (and) create a whole new source of energy using underutilized and undervalued natural gas”. . It’s that we need this discussion and this education – so that we can better steer our own ship.

The workshop is free, but pre-registration is required as lunch will be provided. Registration can be done by emailing [email protected] or by calling 563-6240.