Saudi Aramco denies reports it will embark on Bitcoin mining 

DHAHRAN: Saudi Aramco has denied the reports about its plans for Bitcoin mining. “With reference to recent reports claiming that the Company will embark on Bitcoin mining activities, Aramco confirms that these claims are completely false and inaccurate,” said an Aramco statement issued on Monday.

A global integrated energy and chemicals company, Aramco produces approximately one in every eight barrels of the world’s oil supply and develops new energy technologies.

There are reports that\ Saudi Arabian Monetary Authority (SAMA) has warned from using Bitcoin as it is high risk and its dealers will not be guaranteed any protection or rights. But Bitcoins are still accepted by small businesses and merchants despite SAMA warned the public of risks of Bitcoins, and that they are not legal tender.

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