Saudi Aramco, the largest oil company in the world, has just confirmed it is not mining and does not plan to mine cryptocurrencies, according to the statement shared today by the Saudi Arabian firm.
Notably, the company has said:
“With reference to recent reports claiming that the Company will embark on Bitcoin mining activities, Aramco confirms that these claims are completely false and inaccurate.”
Saudi Aramco has been “forced” to share this statement after some media outlets had rumored the company was interested in mining Bitcoin. In particular, according to rumors, the company was planning to generate electricity to mine Bitcoin.
If the company were to actually mine Bitcoin, the news could have caused a lot of controversy, as the cryptocurrency mining industry has been criticized by many for its environmental impact. Just as an example, electric car manufacturer Tesla recently stopped accepting Bitcoin as a payment method because of the negative impact of Bitcoin mining. However, the firm said it would resume Bitcoin payments when the activity becomes greener.