Bitcoin miners and oil and gas execs mingled at a secretive meetup in Houston – here’s what they talked about

Published

4 years ago

September 4, 2021

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Bitcoin enthusiasts, miners, and oil & gas execs gathered at a meetup in Houston to talk about the future of bitcoin mining.

HOUSTON – On a residential back street of Houston, in a 150,000 square-foot warehouse safeguarding high-end vintage cars, 200 oil and gas execs and bitcoin miners mingled, drank beer, and talked shop on a recent Wednesday night in August.

These two groups of people may seem as though they are at opposite ends of the professional and social spectrums, but their worlds are colliding – fast. As it turns out, the industries make for compatible bedfellows.

Just take Hayden Griffin Haby III, an oilman turned bitcoiner. The Texas native and father of three has spent 14 years in oil and gas, and he epitomizes what this monthly meetup is all about.

Haby started as a surface landman where he brokered land contracts, and later, ran his own oil company. But for the last nine months, he’s exclusively been in the business of mining bitcoin.

As Haby describes it, he was “orange pilled” in November 2020 – a term used to describe the process of convincing a fiat-minded person that they are missing out by not investing in bitcoin. A month later, he co-founded Limpia Creek Technologies, which powers bitcoin mining rigs with flared, vented, and stranded natural gas assets.

“When I heard that you could make this much money per MCF (a metric used to measure natural gas), instead of just burning it up into the atmosphere, thanks to the whole ‘bitcoin mining thing,’ I couldn’t look away,” Haby said. “You can’t unsee that.”

When China kicked out all its crypto miners this spring – an exodus which Haby calls the “Chexit” – that poured kerosene on the flames. “This is an opportunity we didn’t think was coming,” he said.

Haby tells CNBC they are already seeing demand rushing to Texas, and he is convinced that the state is poised to capture most of the Chinese hashrate looking for a new home on friendlier shores.

Bitcoin miners care most about finding cheap sources of electricity, so Texas – with its crypto-friendly politicians, deregulated power grid, and crucially, abundance of inexpensive power sources – is a virtually perfect fit. The union becomes even more harmonious when miners connect their rigs to otherwise stranded energy, like natural gas going to waste on oil fields across Texas.

“This is Texas, boys. We got what you need, so come on down,” said Haby. “We are sitting on the energy capital of the world.”

“I think Kevin Costner said it best: ‘If you build it, they will come,'” said Haby.

An underground meetup of bitcoin miners and oil & gas execs was held at a 150,000 square-foot warehouse safeguarding high-end vintage cars.

Mobilizing a movement

Parker Lewis is one of Texas’ de facto bitcoin ambassadors. Everyone knows him. Everyone likes him. And virtually any bitcoiner you ask refers to him as the future mayor of Austin.

Lewis is an executive at Unchained Capital, a bitcoin-native financial services firm. He isn’t in politics – yet — but he is hustling across the state of Texas to spread the good word on the world’s biggest cryptocurrency. In May, the Houston Bitcoin Meetup consisted of only 20 people in a fluorescent-lit conference room in an office. Then Lewis decided to get involved.

“I just knew Houston would be prime to explode because of the energy connection to mining – if we organized a good meetup,” Lewis told CNBC. “It’s also key to Texas being the bitcoin capital of the world.”

His efforts are paying off. Wednesday’s meetup drew more than 200 attendees from across the state of Texas, as well as California, Colorado, Louisiana, Pennsylvania, New York, Australia and the UK.

The buzz was electric on Wednesday night. You had to shout to be heard. And no one in the room mentioned any cryptocurrency beside bitcoin. There was also an unmistakable air of stealth – and FOMO. The people who showed up to this event did so, at least in part, because they didn’t want to get left behind.

Capturing excess and otherwise wasted natural gas from drilling sites and then using that energy to mine bitcoin is still firmly in the category of avant-garde tech.

Haby, who’s affable and an open book on most things, clams up when it comes to sharing the location of his company’s mining sites. “West Texas” is as much as Haby would give CNBC, though if the name “Limpia Creek” is any indication, that would place them 100 miles due north of Big Bend National Park.

His secrecy was par for the course that evening.

Oilmen, turned bitcoin miners, Griffin Haby with Conner Murphree and Jordan Kuntz at one of their bitcoin mining sites in Texas.

Bitcoin miner Alejandro de la Torre was born in Spain, but he’s spent years minting bitcoin all over the world, most recently in China. When Beijing cracked down on all things crypto, De La Torre got a call from his boss at 3 A.M. telling him he had to go to Texas. He was in Austin the next day.

Since then, he’s been shipping his new-generation mining gear to the U.S. in bulk.

“It’s all through ships and from the Pacific side,” De La Torre told CNBC. “The port depends on the location of where the rigs will end up.”

That was as much as De La Torre would divulge, because, as he explains it, any further details about the destination, or the gear itself, could give his competitors an edge.

Bitcoin believers care a lot about privacy, as do the oil and gas guys. Some cited non-disclosure agreements as a reason to speak to CNBC in vague platitudes about business deals. Others were only willing to share their thoughts on the condition of anonymity. And some attendees worried about their job security should their employer find out they were there.

These weren’t tycoons — they were mostly up-and-coming young execs, hungry to get ahead and make a name by taking a gamble on bitcoin mining.

Oil and gas meets bitcoin

For years, oil and gas companies have struggled with the problem of what to do when they accidentally hit a natural gas formation while drilling for oil. Whereas oil can easily be trucked out to a remote destination, gas delivery requires a pipeline.

If a drilling site is right next door to a pipeline, they chuck the gas in and take whatever cash the buyer on the other end is willing to pay that day. “There’s no choice. There’s no middle finger. Whatever gas comes out that day has to be sold,” explained Haby.

But if it’s 20 miles from a pipeline, things start to get more complicated.

More often than not, the gas well won’t be big enough to warrant the time and expense of building an entirely new pipeline. If a driller can’t immediately find a way to sell the stash of natural gas, most look to dispose of it on site.

One method is to vent it, which releases methane directly into the air – a poor choice for the environment, as its greenhouse effects are shown to be much stronger than carbon dioxide. A more environmentally friendly option is to flare it, which means actually lighting the gas on fire.

“Chemistry is amazing,” explained Adam Ortolf, who heads up business development in the U.S. for Upstream Data, a company that manufactures and supplies portable mining solutions for oil and gas facilities.

“When CH4, or methane, combusts, the only exhaust is CO2 and H2O vapor. That’s literally the same thing that comes out of my mouth when I exhale,” continued Ortolf.

But Ortolf points out, flares are only 75 to 90% efficient. “Even with a flare, some of the methane is being vented without being combusted,” he said.

This is when on-site bitcoin mining can prove to be especially impactful.

When the methane is run into an engine or generator, 100% of the methane is combusted and none of it leaks or vents into the air, according to Ortolf.

“But nobody will run it through a generator unless they can make money, because generators cost money to acquire and maintain,” he said. “So unless it’s economically sustainable, producers won’t internally combust the gas.”

A panel of bitcoin miners and oil & gas execs share what it’s like to mine bitcoin in Texas.

Bitcoin makes it economically sustainable for oil and gas companies to combust their methane rather than externally combust it with a flare.

“There is no such thing as stranded gas anymore,” said Haby.

But Ortolf has taken years to convince people that parking a trailer full of ASICs on an oil and gas field is a smart and financially sound idea.

“In 2018, I got laughed out of the room when I talked about mining bitcoin on flared gas,” said Ortolf. “The concept of bringing hydrocarbons to market without a counterparty was laughable.”

Fast forward three years, and business at Upstream, a company founded by lead engineer Steve Barbour, is booming. It now works with 140 bitcoin mines across North America.

“This is the best gift the oil and gas industry could’ve gotten,” said Ortolf. “They were leaving a lot of hydrocarbons on the table, but now, they’re no longer limited by geography to sell energy.”

It is also helping to curtail the overall carbon footprint of some of these oil and gas sites. Recent production stats show that in the U.S. alone about 1.5 billion cubic feet of natural gas is wasted on a daily basis. And these are just the reported numbers, so the actual figures are likely higher.

Meanwhile, bitcoin miners get what they want most: cheap electricity.

Voting out the haters

The thing about all these grand visions for bitcoin mining – to stay the course, it requires some manpower on Capitol Hill to safeguard its plan to scale. And right now, politicians in Washington are scrambling to figure out what and how to regulate cryptocurrencies and all the ancillary services that make up the wider ecosystem for digital currencies.

That’s why another big topic of conversation at the Houston Bitcoin Meeting was political activism.

“Who knows a staffer or a representative?” one member of the crowd posed to the group. At least half a dozen people raised their hands and one stepped up to confirm they would reach out to their contact in Senator Cruz’s office.

There was a sense of momentum in the audience. Several people made the point that the bitcoin contingent across the country had paralyzed a $1 trillion rubber-stamped, bipartisan bill, no small feat for a voting bloc which hitherto hadn’t been viewed as much of a threat on the Hill.

But it’s not just about being on the defensive for these tens of millions of voters and bitcoin faithful. They’re going on the offensive by working to install like-minded people into office so that they can do something “before they do it to us,” as one member of the audience said to the group. They’re also teaching veteran lawmakers about bitcoin, as many representatives don’t understand it.

“We need to target anyone who is anti-bitcoin. There are 45 million of us in America, and we are not silent,” said this same attendee.

Environment

Rumor: Polestar ($PSNY) planning reverse stock split to stay on NASDAQ

Published

14 hours ago

November 15, 2025

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Rumor: Polestar ($PSNY) planning reverse stock split to stay on NASDAQ

The automaker turned penny stock is doing a reverse stock split to stay listed on the Nasdaq

In a bid to get it above the $1.00/share NASDAQ-required minimum, fledgling EV brand Polestar ($PSNY) is rumored to be considering a 1:30 reverse stock split that could see the per-share price rocket up to nearly $16.

Geely-owned Volvo spinoff Polestar is working as hard as Tesla to prove that stock prices have little or nothing to do with traditional business fundamentals in 2025.

That’s because Polestar posted a 36.5% increase in retail sales and a heady 48.8% increase in revenue (to $2.17 billion) over the year before, Polestar’s share price has plummeted more than 35% in a matter of a few weeks – culminating in an unwelcome nastygram from NASDAQ threatening to delist the company’s shares from the NASDAQ if they didn’t climb back up above $1.

It looks bad

To goose the share price, CarScoops is reporting that Polestar aims to move forward with the reverse stock split before the end of 2025. The expected 1:30 reverse split would boost the PSNY price to an estimated $15.90 per share at current prices, keeping the brand well out of risk of a delisting.

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In a reverse stock split, each share of the company is converted into a fraction of a share – so, if a company announces a one for ten reverse stock split (1:10), every ten shares that you own will be converted into a single share. In a 1:30 reverse split like the one rumored here, every thirty shares in Polestar would become a single share.

The reverse split increases share price, but it’s not without risk:

A company may declare a reverse stock split in an effort to increase the trading price of its shares – for example, when it believes the trading price is too low to attract investors to purchase shares, or in an attempt to regain compliance with minimum bid price requirements of an exchange on which its shares trade … investors may lose money as a result of fluctuations in trading prices following reverse stock splits.

INVESTOR.ORG

That’s especially relevant because, despite the increased sales and revenue, the company is also posting increased losses. Through September, the brand posted a $1.56 billion net loss compared to an $867 million loss in the first nine months of 2024. The company is also getting hit hard by Trump-imposed tariffs in the US and increased downward pressure on pricing coming from aggressive post-tax credit discounts from rival brands like BMW and Kia.

If the split does happen, here’s hoping Polestar can make the most of their borrowed time and they don’t end up like Lordstown Motors or Faraday Future – two brands that have pulled similar reverse stock splits with dubious results.

Electrek’s Take

Make the switch to Polestar. Save up to $20,000 on a Polestar 3 lease as a Tesla owner. — Polestar showroom; via Polestar.

Product-wise, at least, Polestar’s future appears to be bright. The new 3 crossover is a viable competitor to the industry-leading Tesla Model Y, and the upcoming Polestar 4 and 5 models seem like winners, too. To drive that point home, Polestar is promoting up to $18,000 in lease incentives to lure Tesla buyers into their showrooms.

You can find out more about Polestar’s killer EV deals on the full range of Polestar models, from the 2 to the 4, below, then let us know what you think of the three-pointed star’s latest discount dash in the comments section at the bottom of the page.

SOURCE: CarScoops; images via Polestar.

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Environment

Maybe it really SHOULD have been the new Maxima: meet the Nissan N6 EREV

Published

15 hours ago

November 15, 2025

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Maybe it really SHOULD have been the new Maxima: meet the Nissan N6 EREV

Nissan’s New Hybrid Sedan Is As Big An Altima For Thousands Less Than A Versa

With its sleek, uncluttered styling and more than 100 miles of battery-electric range before the extended range electric sedan’s gas engine kicks on, maybe the new Nissan N6 really should have been the next Maxima!

Struggling Japanese carmaker Nissan is dealing with an aging lineup and a brand identity driven more by subprime financing than any suggestion of reliability or sportiness here in the US – but overseas? The brand is rolling out hit after hit, and the latest Nissan N6 plug-in sedan promises exactly the sort of entry-level panache that could change its American fortunes.

“Under our Re:Nissan plan, we are redefining what Nissan delivers today and beyond,” explains Nissan President and CEO Ivan Espinosa. “It’s about strengthening our core, reigniting Nissan’s heartbeat, and creating products that inspire excitement and trust. It is about a sharper, more focused product strategy, a stronger brand, and a renewed commitment to our customers. Integral to this transformation is China — an essential market whose speed, technological leadership, and customer insights are setting the pace for the global auto industry.”

Developed by the Nissan Dongfeng JV in China, the new N6 is more compact that the well-received N7 BEV. In fact, the new Nissan N6, at 190.1″ long, compares nicely to the 192.8″ length of the most recent (and largest-ever) US Maxima, discontinued in 2023. Like the Maxima, the top-shelf version features modern, near-luxe features like soft, leather-like surfaces, LED mood lighting, multi-way adjustable seats, and mimosas or something.

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Mimosas or something

The four or five passengers inside the N6 are propelled down the road exclusively by the car’s 208 hp electric motor, which is efficient enough to take you 112 miles on a full charge of its 21.1 kWh LFP battery. Once that charge is depleted, a 1.5L gas engine kicks on as a high-efficiency generator to keep the good times rolling.

Nissan says the N6′ exterior design, “features a V-Motion signature grille and expressive LED lighting at the front and rear.” And says that the car’s crisp lines give it, “a confident, dynamic presence.”

All of which sounds good on its own, but sounds absolutely miraculous when you consider the car’s Chinese price: ¥106,900 – or about $15,000 US for the base Nissan N6 180 Pro, as I type this.

Even with a nearly 100% markup to give it a $29,990 price tag in the US, I think the N6 would be a huge hit in the North American market. And – good news! – thanks to Canada’s apparent willingness to give Chinese carmakers a shot, we might find out if I’m right somewhat sooner than later.

Check out the Nissan N6 image gallery, below, then let us know what you think of the car’s US and Canadian appeal in the comments.

Nissan N6 gallery

SOURCE | IMAGES: Nissan.

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BLUETTI just dropped new home backup power stations – and slashed prices up to 65% for Black Friday

Published

18 hours ago

November 15, 2025

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BLUETTI just dropped new home backup power stations – and slashed prices up to 65% for Black Friday

Whether you’re prepping for winter power outages, loading up the RV for a long-haul trip, or want clean, reliable power anywhere you go, BLUETTI has a portable power option for every need. And right now, the clean energy experts are offering up to 65% off their most popular products for Black Friday – plus they’ve just dropped two major new releases: the Elite 400 and B500K expansion battery.

Here’s a complete guide to what’s new, what’s on sale, and how to pick the model that fits your lifestyle best. There are also some special deals just for Electrek readers, so don’t miss out!

For home backup + outdoor adventures: Elite 200 V2 and all-new Elite 400

Elite 200 V2 – Best value for backup, camping, and van life

BLUETTI’s Elite 200 V2 is designed for power users who need versatility. It’s nicknamed the “Swiss Army Knife” of portable power stations because it powers everything from your fridge to your laptop — whether you’re off the grid or just want to keep the lights on during a storm.

Key specs:

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Battery capacity: 2,073.6Wh
Continuous power output: 2,600W (3,900W surge)
9 output ports: AC, DC, USB-C, and more
Recharges to 80% in just over one hour
Ultra-quiet 16 dB operation
LiFePO₄ battery with a 17-year lifespan (3,500+ cycles)

Who it’s for:

RVers, weekend campers, off-grid explorers, small cabin owners
Homeowners looking for dependable backup power

Commonly powered devices: Mini-fridges, coffee makers, power tools, microwaves, kettles, electric blankets, laptops, LED lights, wifi routers

Its compact profile makes it easy to tuck away in an RV cabinet, trunk, or apartment closet.

Elite 200 V2 Portable Power Station is regularly priced at $1,699, and it’s on sale for the record-low price of $699 – that’s a 59% discount for Black Friday and Cyber Monday.

Elite 400 Rolling Power Station — New and optimized for home

Launching November 15, the Elite 400 is a powerful 3.8kWh portable station designed with mobility and backup readiness in mind. With built-in wheels, a telescoping handle, and side grips, you can roll it anywhere – even if you’re flying solo.

Key specs:

Battery capacity: 3,840Wh
Continuous power output: 2,600W (3,900W lifting power)
9 output ports for simultaneous device charging
15ms UPS switchover during power outages
Recharges to 80% in 70 minutes using AC + solar
Low standby energy use (3W) with app-control wakeup and timers

Who it’s for:

Homeowners needing serious backup power
Outdoor event hosts, road trippers, off-grid enthusiasts

Commonly powered devices: Full-size refrigerators, sump pumps, CPAP machines, space heaters, power tools, projectors, outdoor cooking appliances, large TVs

Whether you’re powering your home in a blackout or running a campsite movie night, the Elite 400 delivers enough capacity to handle just about anything.

The new Elite 400 Portable Power Station is regularly priced at $2,999, and it’s making its debut on November 15 for $1,499 – that’s a 50% discount for Black Friday and Cyber Monday.

For whole-home power and off-grid living: Meet the new B500K expansion battery

If you’re looking for a system that grows with your energy needs, the B500K expansion battery delivers massive storage potential at a competitive cost of around $0.33/Wh – making it an excellent choice for users seeking higher capacity than the well-acclaimed B300K. Paired with the Apex 300, it also qualifies for the soon-to-end 30% Federal Tax Credit. Designed to integrate seamlessly into BLUETTI’s modular ecosystem, it’s ideal for home battery backup or off-grid setups.

Key specs:

Supports up to 100 kWh storage (paired with Apex 300 system)
Compatible with BLUETTI’s SolarX 4K, B300K, Hub D1, and more
Acts as both standalone power or an expansion battery
Future-proof with long-term ecosystem integration

The new B500K expansion battery is regularly priced at $2,999, and it’s making its debut on November 15 for $1,699 – that’s a 43% discount for Black Friday and Cyber Monday.

Ideal bundles:

Apex 300 + B500K: Best for large homes, off-grid living, and whole-home backup. With a larger individual capacity, the B500K enables a plug-and-play power system that can be expanded to a massive 100 kWh with the Apex 300. It provides 3.8 kW of power output and 7,884.8 Wh of capacity in total.
The Apex 300 + B500K Home Battery Backup is priced at $4,998, and it’s on sale for Black Friday for $3,098 – that’s a 38% discount.

Apex 300 + B300K: The Apex 300, paired with the B300K, provides 5.5 kWh of capacity and up to 3.8kW of power output, offering smaller households or remote cabins reliable off-grid energy with room to scale. It’s an ideal way to support essential loads, such as refrigerators, lights, fans, and wifi routers, without the need to invest in a larger setup.
The Apex 300 + B300K is normally priced at $4,098, and it’s on sale for Black Friday for $2,299 –that’s a 44% discount.

Plus! Both bundles are fully eligible for the 30% federal Residential Clean Energy Credit through December 2025.

For everyday portability: Elite 30 V2 and the new Elite 10

Elite 30 V2 – now in EcoTide colors

If you need lightweight, flexible power for camping, car trips, desk-side charging, or college dorm use, the Elite 30 V2 is the sweet spot. Weighing just 4.3 kg, it’s a portable backup that fits in your backpack or on a small shelf. Plus, it comes in six fun colors.

Key specs:

Battery capacity: 288Wh
Continuous power output: 600W (1,500W surge)
9 output ports including 140W USB-C PD
Charges to 80% in 45 minutes
Quiet operation under 30 dB
10-year LiFePO₄ battery lifespan, with a 5-year warranty

Ideal for powering: Laptops, DSLR cameras, portable fans, smartphones, drones, modems, LED lighting, external hard drives

It’s perfect for digital nomads, travelers, or anyone who needs reliable backup power without adding bulk.

Elite 30 V2 Portable Power Station is regularly priced at $304, and it’s on sale for $199 – that’s a 35% discount for Black Friday and Cyber Monday. You can buy it on BLUETTI’s website here and on Amazon here.

Sneak preview: The new Elite 10 – pocket-sized power

Launching on November 20, the palm-sized Elite 10 is BLUETTI’s most compact power station yet. It’s the perfect in-between if a power bank won’t cut it, but you don’t want a full-sized power station.

Key specs:

Battery capacity: 128Wh
Power output: 200W AC (300W peak, 400W surge)
5 DC outlets + 200W AC outlet
Fully recharges in 70 minutes
LED light modes: reading, warm, SOS

Perfect for powering: Bluetooth speakers, portable fans, DSLR cameras, tablets, Chromebooks, routers, handheld consoles, mini-fridges

Small enough to slip into a tote, train bag, or glovebox, the Elite 10 is built for everyday carry and quick power access.

The Elite 10 launches next week and is said to be the best budget-friendly option yet – available for under $150, and rumored to go even lower. You’ll be able to grab it on BLUETTI’s website and on Amazon here starting November 20.

Electrek exclusive discounts

In addition to the fantastic Black Friday Cyber Monday sale prices, up to 65% off, BLUETTI is offering a special discount code just for Electrek readers!

95% of BLUETTI products qualify for an extra 5% off with code: ELECTREK5OFF
The new Elite 400 and all Apex 300 series products qualify for 6% off with code: ELECTREK6OFF

Now is the best time to invest in a power system that’s quiet, clean, and ready whenever you need it – at home or beyond the grid.

The trusted name offers a full lineup of portable power stations to keep you charged – whether a winter storm hits or you’re enjoying outdoor adventures – and stay charged, no matter where life takes you.

Follow BLUETTI on Twitter/X here and on Facebook here.

All photos: BLUETTI

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