Saudi Aramco Denies Bitcoin Mining Rumors


Saudi Arabia’s state oil company Saudi Aramco has denied rumors that it plans to mine the premier cryptocurrency Bitcoin.

August 2, 2021, | AtoZ Markets – The first noteworthy news of the new month came from Brazil yesterday. Wise&Trust Company Mining Operations Manager Raymond Nasser, who participated in an interview on Bitcoinheiros Youtube channel, announced that Saudi Aramco plans to mine Bitcoin.

Stating that he has held talks with Saudi Aramco, the third-largest company in the world in terms of daily oil production, about crypto money mining, Nasser also stated that the company plans to use the gas generated during the oil production process for Bitcoin mining.

However, today, a statement came from Saudi Aramco denying Nasser’s claims. In the official statement made through Argaam, one of the important financial news sites of Saudi Arabia, it was stated that Bitcoin mining claims are unfounded:

The news that Saudi Aramco will start Bitcoin mining operations is completely untrue and unfounded.”

Amazon also denied Bitcoin rumors

A similar event took place in the cryptocurrency market last weekend. In the news shared by the UK-based financial newspaper City AM at the weekend, it was stated that Amazon will start accepting Bitcoin in 2021 and will start working on its own token in 2022.

In the news, which was based on an anonymous source within the company, it was emphasized that the works have been carried out since 2019 and the project is almost ready. This news had a very positive impact on the crypto money market, and Bitcoin gained close to 15% in a short time.

However, on Monday, a company spokesperson told a news site that the speculations were not true and the company did not have a specific plan on cryptocurrencies:

Your future; We believe that it will be built on new technologies that enable modern, fast and cheap payments. We hope to bring this future to Amazon customers as soon as possible. But despite our interest in these technologies, speculation that we have specific plans for cryptocurrencies like Bitcoin is untrue.”

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