Matt Lohstroh and Brent Whitehead have become the talk of the industry this week after CNBC featured the 23-year-old Texas A&M alums and their burgeoning bitcoin empire. The empire, Giga Energy Solutions, by the way is powered by none other than flared natural gas.
And, it all got started with a tweet from a Canadian firm that they happened to see. It wasn’t long before Lohstroh and Whitehead, whose grandfather is a wildcatter and father works for an E&P, were on a plane to Canada to buy a unit that connects to a gas well in East Texas and houses bitcoin miners. That was 2019. In 2021, they made $4 million.
Lohstroh, chatted with Emily Easley, CEO of NOVUS Energy Advisors, about their journey for HartEnergy.com
- Getting started (0:38)
- From landscaping to bitcoin mining (1:30)
- The basics of bitcoin mining (2:35)
- Bitcoin obsession (4:27)
- Contributing to carbon management (5:25)
- Their business model (6:34)
- Vision for the future of the company (7:48)
- Team of ‘six-figure blue collar workers’ (9:07)
- Customers and contracts (10:21)
- Funding (11:36)
2023-02-03 - Miniature quartz gauge measures reservoir conditions through cement in real time.
2023-01-31 - Rystad Energy sees increased brownfield activity driving a 20% increase in projected spend in the subsea services market in 2023.
2023-01-10 - Independent operator VAALCO Energy opted to replace an aging FPSO with an FSO and platform upgrades as a way of extending the life of the field offshore Gabon beyond 2030.
2023-01-26 - Here’s a roundup of the latest E&P headlines including a production update from Tullow, an update on U.K. offshore opportunities and some contract announcements in the upstream oil and gas industry.
2022-11-28 - Here’s a roundup of the latest E&P headlines including a new find in the Sichuan Basin and a flaring investigation in the U.K. North Sea from the past week in the upstream oil and gas industry.