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

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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

FERC: Solar + wind made up 91% of new US power generating capacity in H1 2025

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2 hours ago

September 3, 2025

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FERC: Solar + wind made up 91% of new US power generating capacity in H1 2025

RWE Texas wind H1 2025 — RWE Texas wind Image: GE Vernova

Solar and wind accounted for 91% of new US electrical generating capacity added in the H1 2025, according to data just released by the Federal Energy Regulatory Commission (FERC), which was reviewed by the SUN DAY Campaign of data. In June, solar alone provided 82% of new capacity, making it the 22nd consecutive month solar held the lead among all energy sources.

Solar’s new generating capacity in June 2025 and YTD

In its latest monthly “Energy Infrastructure Update” report (with data through June 30, 2025), FERC says 63 “units” of solar totaling 2,439 megawatts (MW) were placed into service in June, accounting for over 81.5% of all new generating capacity added during the month.

The 14,567 MW of utility-scale (>1 MW) solar added during the first six months of 2025 was 74.9% of the total new capacity placed into service by all sources.

Solar has now been the largest source of new generating capacity added each month for 22 consecutive months: September 2023–June 2025. During that period, total utility-scale solar capacity grew from 91.82 gigawatts (GW) to 151.73 GW. No other energy source added anything close to that amount of new capacity. Wind, for example, expanded by 10.53 GW while natural gas increased by just 2.73 GW.

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Solar, wind + biomass were over 91% of new capacity added in H1 2025

Between January and June, new wind has provided 3,139 MW of capacity additions – nearly doubling the new capacity provided by natural gas (1,727 MW). Wind accounted for 16.1% of all new capacity added during the first six months of 2025.

In H1 2025, solar and wind (plus 3 MW of biomass) were 91.04% of new capacity, while natural gas provided just 8.88%; the balance came from oil (14 MW).

Solar + wind are 23.17% of US utility-scale generating capacity

Utility-scale solar’s share of total installed capacity (11.34%) is now nearly equal to wind (11.83%). Taken together, they account for 23.17% of the US’s total available installed utility-scale generating capacity.

Moreover, at least 25-30% of US solar capacity is in the form of small-scale (e.g., rooftop) systems that are not reflected in FERC’s data. Including that additional solar capacity would bring the share provided by solar + wind to more than a quarter of the US total.

With the inclusion of hydropower (7.62%), biomass (1.07%), and geothermal (0.31%), renewables currently claim a 32.17% share of total US utility-scale generating capacity. If small-scale solar capacity is included, renewables are now about one-third of total US generating capacity.

Solar is on track to become No. 2 source of US generating capacity

FERC reports that net “high probability” additions of solar between July 2025 and June 2028 total 92,660 MW – an amount more than four times the forecast net “high probability” additions for wind (23,136 MW), the second fastest growing resource. Notably, FERC’s most recent three-year forecasts for growth by both solar and wind are the highest they have been thus far in 2025.

FERC also foresees net growth for hydropower (583 MW) and geothermal (92 MW) but a decrease of 131 MW in biomass capacity.

Taken together, the net new “high probability” capacity additions by all renewable energy sources over the next three years – the bulk of the Trump Administration’s remaining time in office – would total 116,340 MW.

There is no new nuclear capacity in FERC’s three-year forecast while coal and oil are projected to contract by 25,017 MW and 1,572 MW, respectively. Natural gas capacity would expand by 8,748 MW.

Adjusting for the different capacity factors of gas (59.7%), wind (34.3%), and utility-scale solar (23.4%), electricity generated by the projected new solar capacity to be added in the coming three years would be more than four times greater than that produced by the new natural gas capacity, while the electrical output by the new wind capacity would be 52% more than that by gas.

If FERC’s current “high probability” additions materialize, by July 1, 2028, solar will account for 17.1% of the US’s installed utility-scale generating capacity. Wind would provide an additional 12.6% of the total. Thus, each would be greater than coal (12.1%) and substantially more than either nuclear power or hydropower (7.3% and 7.1%, respectively).

Assuming current growth rates continue, the installed capacity of utility-scale solar is likely to surpass that of wind capacity this year and exceed that of coal by the end of next year. Installed solar capacity is already almost 50% greater than that of nuclear power. Thus, within two years, solar should be in second place for installed generating capacity, behind only natural gas.

Renewables may overtake natural gas within 3 years

The mix of all utility-scale renewables is now adding about two percentage points each year to its share of generating capacity. At that pace, by July 1, 2028, renewables would account for 38.1% of total available installed utility-scale generating capacity, rapidly closing the gap with natural gas (40.0%). Solar and wind would constitute more than three-quarters of the installed capacity of renewable sources. If those trendlines continue, utility-scale renewable energy capacity should surpass that of natural gas in 2029 or sooner.

However, as noted, FERC’s data do not account for the capacity of small-scale solar systems. If that’s factored in, within three years, total US solar capacity (i.e., small-scale plus utility-scale) could approach 350 GW. In turn, the mix of all renewables would be about 40% of total installed capacity or more, while natural gas’s share would drop to about 38%.

Moreover, FERC reports that there may actually be as much as 230,770 MW of net new solar additions in the current three-year pipeline in addition to 68,627 MW of new wind, 7,923 MW of new hydropower, 202 MW of new geothermal, and 27 MW of new biomass. By contrast, the net new natural gas capacity in the three-year pipeline potentially totals just 30,251 MW. Consequently, renewables’ share could be even greater by early summer 2028.

Renewables increase and fossil fuels shrink

A year ago, the mix of all renewables accounted for 29.95% of total generating capacity. Solar alone was 8.99% while wind was 11.75%. Over 12 months (by the end of June 2025), renewables’ share had risen to 32.17% with solar at 11.34% and wind at 11.83%.

Natural gas’s share slipped from 43.32% to 42.34% as coal fell from 15.76% to 14.82% and oil dropped from 2.77% to 2.71%. Similarly, nuclear power’s share of generating capacity decreased from 8.04% to 7.80%.

“Notwithstanding the hostility toward solar and wind shown by the Trump administration and its Republican supporters in Congress, both technologies are moving full speed ahead,” noted the SUN DAY Campaign’s executive director, Ken Bossong. “In fact, FERC’s latest data suggest growth by renewables may actually be accelerating.”

Electrek’s Take

The New York Times reported today that the White House now has Secretary of Health and Human Services, RFK Jr, involved in trying to obliterate offshore wind power. The Health and Human Services Department has been instructed to study whether wind turbines emit electromagnetic fields that could harm human health. (While he’s at it, maybe he could check out fossil fuels and their harm to human health. Oh wait, that’s already been done.)

This is in addition to the nonsense from the Department of the Interior that temporarily stopped work on New York’s Empire Wind – it never could justify that costly and senseless action – and the Department of Defense’s “national security threat” that’s currently being cited as the reason for putting the 80% complete Revolution Wind out of commission.

Imagine being a president who harms their own people based on nothing more than whims and quirks, and justifying it with ridiculous lies. Except you don’t have to imagine it – your rising electricity bill will be proof enough that it’s real.

The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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Environment

The Honda Prologue outsold the Odyssey and Passport last month, thanks to big savings

Published

4 hours ago

September 3, 2025

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The Honda Prologue outsold the Odyssey and Passport last month, thanks to big savings

The Honda Prologue quietly outsold much of the competition last month after sales surged 80% from last August. With over 9,300 models sold in August, the Honda Prologue is coming off its best sales month yet.

Honda Prologue had its best sales month in August

Honda’s electric SUV is one of the most popular electric vehicles in the US. After delivering the first models last March, the Honda Prologue quickly became a surprise hit.

In the second half of the year, it was the second-best-selling electric SUV behind the Tesla Model Y. The Cinderella story continued in August after Honda sold a record 9,347 Prologues, its best sales month so far.

Honda sold more Prologues last month than the Odyssey (6,690) and Passport (5,173). It also outsold most EVs in the US.

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Despite setting its own monthly sales record, the Prologue outsold Ford’s Mustang Mach-E. Ford reported earlier today that Mach-E sales hit a record 7,226 in August. Hyundai’s new IONIQ 5 had a breakout month with 7,773 units sold, up 61% from last August.

Honda has now sold nearly 32,000 Prologue models through the first eight months of the year. The Mach-E remains ahead on the year with 34,319 units sold, followed by the IONIQ 5 at nearly 32,700.

Although GM doesn’t provide a breakdown, the company said it sold a record 21,000 EVs between the Chevy, GMC, and Cadillac brands.

GM expects the Chevy Equinox EV to be among the top three best-selling EVs this year, behind only the Tesla Model Y and Model 3. Meanwhile, GM warned that with the “irrational discounts” ending, EV sales will slow next quarter.

Like most automakers, Honda is offering some serious savings opportunities ahead of the $7,500 tax credit expiration at the end of the month.

Honda is promoting Prologue leases as low as $159 per month. The offer includes a $3,500 conquest or loyalty bonus and is available in most US states.

2025 Honda Prologue trim	Starting Price*	Starting Price After Tax Credit*	EPA Range (miles)
EX (FWD)	$47,400	$39,900	308
EX (AWD)	$50,400	$42,900	294
Touring (FWD)	$51.700	$44,200	308
Touring (AWD)	$54,700	$47,200	294
Elite (AWD)	$57,900	$50,400	283

2025 Honda Prologue prices and range by trim (*Does not include $1,450 D&H fee)

It also offers a unique One Pay Lease deal that works out to about $200 a month if you pay the full $4,800 lease amount upfront. However, this one is only available for buyers in California and other ZEV states. Both offers include the $7,500 federal tax credit.

If you’re looking to secure the savings while they are still here, we can help you get started. You can use our links below to find deals on the popular electric vehicles in your area.

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Environment

The slickest electric outboard for small boats just launched with more power

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4 hours ago

September 3, 2025

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The slickest electric outboard for small boats just launched with more power

European electric boating brand Remigo has just pulled the wraps off its next-generation outboard motor, the RemigoOne Neo. Building on the success of the original RemigoOne, the Neo brings a mix of extra power, intelligent controls, and refined design to the lightweight electric outboard market.

The biggest upgrade comes in the form of a new boost mode that lets the Neo deliver up to 1,500 watts of power, which they say is roughly equivalent to a four-horsepower gas outboard. We’ve seen that before, where compact electric outboards are capable of matching the performance of higher power gasoline-powered outboards for small vessels.

That extra kick is designed for the moments when boaters need to fight strong winds, currents, or simply get a heavier vessel moving. The boost lasts for 60 seconds before dropping back to the standard 1,000-watt cruising level, but a tap of the forward button instantly reactivates it, making continuous operation at full power possible.

“The boost mode gives skippers an extra gear when they need it, without wasting battery on marginal gains the rest of the time,” said Remigo CEO Marko Vrtovec. “The difference between 1 kW and 1.5 kW is minimal while cruising, but when you need that burst of torque and acceleration, it’s right there.”

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Depending on the hull design, boost mode is apparently capable of propelling boats at speeds of up to 5.5 knots (10.5 km/h).

Despite the added punch, the RemigoOne Neo remains one of the lightest electric outboards in its class. At just 15.5 kg (34 lb) with its integrated 1,085 Wh battery, or 13 kg (29 lb) without the mounting bracket, it’s designed for easy carrying and quick setup. That makes it an appealing solution for tenders, dinghies, and recreational boats up to 1.5 tons. Boaters can easily remove it from their transom and carry it with them while the boat stays at the dock or marina.

The new propeller design promises quieter, smoother, and more efficient performance, while Remigo’s unique blade-shaped housing continues to stand out visually. That same streamlined design also allows precise low-speed steering even when the motor isn’t running, helping boaters maneuver in tight spots without relying on prop thrust.

With the optional fast charger, the Neo tops off in around three hours, but it can also recharge from a solar panel or an external battery. That’s a useful feature for longer adventures or moored boats away from shore power. Controls are equally adaptable, with both handheld and tiller-mounted remotes available.

The RemigoOne Neo is rolling out now through Remigo’s international distributor and dealer network, where it is priced at €2,400 (approximately US $2,800).