#039: How To Start A Successful Bitcoin Mining Operation Using Natural Gas with Chris Halvorson

On this week’s episode, Tom and Phil are joined by Christopher Halvorson, co-founder and CEO of Pin Oak Energy Partners, LLC. He is also the President of Magellan Scientific, LLC. Christopher shares his journey with mining cryptocurrency that started in 2019 when he was approached about buying stranded natural gas in well sites and using it to mine cryptocurrency. He talks about the importance of understanding the capital and expense side of crypto-mining before getting started with it, the learning curve involved and the lessons he has learned so far.

Highlights:

3:58 Stepping into bitcoin mining

6:48 How to get started with cryptocurrency

12:37 A ‘walk before you run’ process

17:04 Application Specific Integrated Circuits(ASICs) and their cost

21:14 The benefits of being off-grid for Magellan LLC

28:19 Handling security at data centers

35:29 Effects of mining with natural gas on the lease agreement

40:26 Lessons Christopher has learned during his time mining

About Christopher Halvorson:

Christopher Halvorson is the co-founder and CEO of Pin Oak Energy Partners, LLC. He is also the President of Magellan Scientific, LLC an off-grid, decentralized digital asset technology company supporting blockchain ecosystems. Mr. Halvorson has 25 years of proven financial and corporate leadership experience with a track record of creating value for both investors and stakeholders alike.

Connect with Christopher:

[email protected]

About SherWare, Inc.

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About COPAS:

COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.

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