crypto strategy

Dream Team Alert: Bitcoin Magazine (Possibly) Is Teaming Up With Fossil Fuel Giant, Shell

Shell logo and bitcoin engraving

A brand partnership made in ________.
Image: Gizmodo/Shutterstock (Shutterstock)

Everyone’s favorite two extremely good and ethical industriescryptocurrency and fossil fuels, team up. Bitcoin Magazine, owned by Bitcoin Inc., announced a new partnership with Shell on Thursday. The oil and gas company reportedly signed a two-year deal, agreeing to sponsor the crypto publication’s 2023 and 2024 Bitcoin conferences, according to A press release.

Or at least that seemed to be the case yesterday. However, Friday afternoon, Bitcoin Magazine—“the world’s first and fundamental digital currency publication” – seemed to have deleted the press release from its website. The link that previously led to the announcement now redirects to the Internet classic: “Error 404 – Page not found”.

Screenshot of a tweet

But if the details of the press release still available on other sites Believe it, the partnership grew from Shell’s dive into bitcoin mining-related technology. The oil company announced a new product last August, intended to help cool servers inside data centers. Cryptocurrency mining usually means running many, many servers everything at once. It’s a incredibly energy-intensive processand the possibility of data centers overheating and crashing is an ever-increasing risk, especially amid climate change-induced heat waves.

So obviously, instead of directly addressing its role in amplifying these heat waves, Shell chose to produce and offer a dressing solution. And, instead of addressing massive greenhouse gas emissions from crypto, one of the biggest blockchain publications has chosen to publicly embrace the fossil fuel industry more.

“Having an energy giant like Shell enter the Bitcoin mining space is a big win for Bitcoin,” said David Bailey, CEO of Bitcoin Magazine, in the press statement. “The trend of companies realizing Bitcoin’s impact on their business will only grow. Shell is just one of the many big-name companies you will see implement a bitcoin strategy in the next few years, and we’re confident they will be welcomed with open arms at the Bitcoin Conference.”

It’s not rare for money from fossil fuel companies to end up in some odd places. Advertisements and sponsorships from oil giants frequently pop up in media, even amid the websites, pages, and newsletters of climate focused outlets. But it’s doubly suspicious that such a partnership announcement would appear and disappear without explanation.

Admittedly, there is lots of reasons why Bitcoin Magazine might have decided not to publicly partner with Shell. And, on the other hand, there is countless able-bodied concerns Shell might have to stick its mark on a set of crypto conferences right now. Honestly, it’s hard to say which industry would be made worse by the association.

Gizmodo contacted Bitcoin Magazine via email for sponsorship details and to determine why the press release was taken down. However, the publication did not immediately respond. Gizmodo also tried to call the phone number associated with Bitcoin Mag in several search results. No one answered and voicemail has not been configured.

Gizmodo also contacted Shell for more information. A company spokesperson, Curtis Smith, responded to our phone call but didn’t seem to know which one partnership we were in reference to. He asked that we send an email so that it can redirect our investigation, to which Shell has so far not responded.


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