Brent Whitehead and Matt Lohstroh are two young men from Texas who have already made millions mining bitcoin and other forms of cryptography. The two worked hard to establish a new company called Giga Energy Solutions, which mints bitcoins from natural gas.
Brent and Matt Chose to Follow Bitcoin
Both Brent and Matt come from oil families and were met with skepticism when they first announced three years ago that they wanted to enter the mining industry. However, his bitcoin obsessions became too big to handle. Therefore, they ignored the advice they received and decided to follow their hearts. Today, the money they have earned through their company proves that they made the right move.
The company works not only to mine cryptocurrencies, but also to address all the environmental concerns that people seem to have with them. Giga places a container containing crypto mining computers in an oil well. From there, the natural gas is diverted to generators. This gas is then converted into electricity which is used to mine cryptocurrency drives. This reduces carbon emissions by more than 60%.
Brent grew up in the oil fields and saw his family in action. He saw a lot of environmental debris and wanted to address concerns around the health of the planet. In an interview he explained:
I've always seen flares, just being in the oil and gas industry. He knew how wasteful it was. It is a new way not only to reduce emissions, but also to make gas profitable.
At this time, the duo has signed contracts with approximately 20 separate oil and gas companies, four of which are publicly traded. They’re also talking to equity funds, which means the company is growing faster than anyone could have predicted. The company currently employs 11 people, but the duo plans to add six more staff before the end of February.
Lee Bratcher, president of the Texas Blockchain Council, says he is very impressed with the work they both have done. He commented:
They are generating revenue for their customers by mining idle energy bitcoins and solving the environmental challenge with flared gas at the same time.
Both men are also natural believers in bitcoin. They love the fact that it is an autonomous currency that no government can control. Matt explained:
Nobody controls it and you don't have to ask permission to use it. That's really what attracted me to Bitcoin... Bitcoin mining is innately linked to power, and the purpose of energy is to create power, so I think you'll see a lot of semantics and how they are interrelated.
Giving people monetary freedom
Brent couldn’t agree more. He trusts that Bitcoin has the power to give people the financial independence they’ve always wanted. He mentioned:
It wasn't as focused on price as it was on adoption. I thought this was a great thing for humanity.