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Benzinga
Benzinga
Business
Shivdeep Dhaliwal

Analyst: What Exxon's Foray Tells Us About 'Convergence' Between Bitcoin Mining And Energy Production

Exxon Yassine Elmandjra ARK

An analyst with Cathie Wood’s Ark Invest said the convergence between Bitcoin (CRYPTO: BTC) and energy production is set to accelerate.

What Happened: The recently reported Exxon Mobil Corp (NYSE: XOM) pilot program involving Bitcoin mining from flared natural gas could “become a crucial and economically beneficial strategy” as oil and gas producers attempt to meet ESG standards demanded by many investors, Ark analyst Yassine Elmandjra said in a note.

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