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:
chris.halvorson@magellanscientific.com
About SherWare, Inc.
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SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.
Click here to watch a demo of the software in action right now.
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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