PANews reported on January 26 that according to Blocknews, Petrobras, one of the world's top ten oil companies, is launching a research and development project that includes Bitcoin mining. The project involves multiple departments and other institutions of the company, focusing on the various applications of blockchain in its low-carbon transformation value chain. Application areas include tokenization, the application of consensus mechanisms in other projects, and Bitcoin mining, as well as research on business models and process modeling using this powerful innovation framework.

Petrobras is not the only oil company involved in Bitcoin, as other oil companies have also announced plans to mine Bitcoin, including Argentina's Tecpetrol, Plus Petrol and YPF Argentina. One of the intersections between oil companies and Bitcoin is the use of some of the natural gas produced during oil exploration. This natural gas is usually not used or sold. Russia's Gazpromneft has reached an agreement with mining company BitRiver, which announced that it will use electricity generated by oil activities for mining.