PANews reported on January 26 that, according to Blocknews, Petrobras, one of the world's top 10 oil companies, is launching a research and development project that includes Bit mining. The project involves multiple departments of the company and other institutions, focusing on researching various applications of Blockchain in its low-carbon transformation value chain. The application areas include tokenization, the application of consensus mechanisms in other projects, and Bit mining, as well as research on business model and process modeling using this powerful innovation framework.
The report said that Petrobras is not the only oil company involved in Bit, as other oil companies have also announced Bit mining plans, including Tecpetrol, Plus Petrol and YPF Argentina in Argentina. One of the intersections between oil companies and Bit is the use of some of the natural gas generated during oil exploration. This natural gas is often unused or unsold. Gazpromneft of Russia has reached an agreement with the mining company BitRiver, which has announced that it will use the electricity generated by oil activities for mining.
