Afterhours inside an unexpected location, a car depot in Houston Texas, several secretive invite-only meetings have recently taken place.  To be invited you had to be from one of two industries - the Texas oil industry, or cryptocurrency mining.

The exact details of these clandestine meetings are still not open to the public, the deals made within protected by nondisclosure agreements.

But we managed to get some early details. 

What's becoming obvious is that Texas wasn't kidding when they said they want to become the crypto mining capitol - China banning miners set that plan into overdrive...

Texas is the home to a massive portion of the US oil industry, not just the black stuff, but natural gas too. Because oil is so valuable, natural gas goes to waste - only released because it escapes the earth when drilling for oil.

Currently, they just burn this natural gas away - as explained in the NYTimes article 'Despite Their Promises, Giant Energy Companies Burn Away Vast Amounts of Natural Gas' which explains: 

"When an energy company strikes oil and begins to pump, less-valuable natural gas comes up alongside the oil. That gas could be gathered into pipelines and sold.  'It’s just much cheaper for companies to get rid of it' said Artem Abramov, an industry analyst at Rystad Energy."

The article also claims that several oil companies have a policy of burning off 100% of the natural gas they encounter while drilling for oil.

With massive amounts of energy literally going up in smoke, the crypto mining industry spotted the obvious opportunity...

Natural gas is much less valuable than oil, so if companies can choose which one to fill their tanks with - it's going to be oil. 

So if they won't bother capturing the natural gas escaping from their oil drilling sites, the only way it would be put to use is if an industry wanted to use it right there, on location.

 "I couldn't take my eyes off this when I saw that so much money could be made on gas thanks to a Bitcoin miner who takes advantage of the gas that is usually released into the atmosphere to burn" says  Adam Ortolf, who runs a company named Upstream Data, which makes the equipment needed to run Bitcoin miners off excess natural gas.

So the plan is to have crypto mining can take advantage of the current situation, install mining operations in the vicinity of each well, then use that to power everything.

Our guess on how it'll all work would be to use trailers fitted to serve as portable crypto mining operations, which would relocate from one oil well onto the next, following the oil company doing the drilling.

A rare situation where everybody wins...

Oil companies currently making nothing off the natural gas their oil wells expel will now receive a small cut of the crypto mining profits, and the crypto miners get energy at a cost lower than ever before.

There's environmental benefits as well - now these crypto miners can unplug from the grid, reducing crypto mining's dependence traditional power plants. 

Lowering demand on the grid means these power plants can then produce less energy - the end result is less carbon emissions, and an overall smaller carbon footprint for crypto. 

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Author: Ross Davis 
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco Newsroom / Breaking Crypto News

 Florida and Texas welcome China's now banned Bitcoin miners - how the Miami mayor hopes to woo crypto miners with cheap nuclear energy.

Video courtesy of CNBC Afterhours

Start cloud mining Bitcoin from as low as $70 a day with the most profitable Bitcoin cloud mining service, NHash. 

A few weeks ago, the hash rate of Bitcoin dropped about 20% leaving many analysts skeptical of the long-term sustainability of the largest cryptocurrency. Despite the drop, the enthusiasm around the mining of Bitcoin remains as strong as ever with a rising mining difficulty and more miners coming into the fray. 

Despite growing into the strongest computational network, Bitcoin has slowly turned into an activity only suitable for the rich. Bitcoin mining requires technical knowledge, expensive equipment, and high electricity costs, which makes it difficult for the common man to make a profit from mining the crypto. 

This has forced miners to look for alternative cryptocurrencies to mine and formulate new ways of mining.

At the top of the solutions is Bitcoin cloud mining. In the next sections, we elaborate on how you can start mining Bitcoin for as little as $70 using NHash, one of the most profitable crypto cloud mining services.

“Cloud Mining is the process of cryptocurrency mining utilizing a remote datacenter with shared processing power.”

NHash, a Bitcoin cloud mining service, aims to give everybody a chance to start mining Bitcoin without the need for expensive equipment or high technical knowledge. The Bitcoin mining rigs are housed and maintained in a facility owned by a mining company and you as the customer only need to register and purchase mining products to receive mining rewards in your account.

“NHash's team has always put the task of making mining accessible not only for crypto-enthusiasts but also for common users,” the NHash website reads. 

The cloud mining service allows users to purchase multiple proof-of-work crypto mining contracts. The platforms allow cloud mining of SHA-256, Scrypt, and ETHASH coins including Bitcoin, Litecoin, Ethereum, and Bitcoin Cash among other cryptocurrencies. The service pays out daily rewards to miners and direct withdrawals to your external crypto wallet. NHash’s goals revolve around making crypto mining easy, smart, rewarding, and affordable for all.

To see this goal through, the NHash team is comprised of highly skilled engineers, developers, and mining specialists that ensure mining run smoothly and investors are offered the best rates and rewards possible via their cloud mining service.

The cheapest-most profitable cloud mining service

NHash offers users some of the best cloud mining rates in the crypto scene to ensure anyone with some capital can start earning rewards from the service. The cloud mining service currently offers five BTC mining price plans – curated from as low as $70 for a 1-day mining contract. The 1-day BTC mining contract ears users a 3% daily reward with no extra maintenance fees charged.

Other contracts include the 7-day mining contract that users can purchase for as low as $200 giving users a fixed income reward of up to 6%, and the 14-day mining contract costs $600 with an expected return of 10% during the period.

NHash offers multiple mining contracts for clients (Image: NHash)

NHash also offers “mega contracts” to users including the 30-day mining contract that costs $2,000 and gives the miner an expected return of 25% during the period and the 45-day mining contract, a $5,000 contract offering miners a 40% return during the period.

Finally, Nhash launched a new campaign that rewards all users with a sign-up bonus of $5, also has a referral program that rewards you for inviting friends to the platforms. At the starter tier, miners get 2% of the quantity of hash power purchased (money invested into NHash) by your referral. This can be a great way to start earning passively! To learn more about NHash and purchase cloud mining plans, visit its website at Nhash.io


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Information Provided via Press Release
Distributed by Global Crypto Press Association
Press Release Distribution for industry.