Aramco rejects reports it is to begin Bitcoin mining.

Saudi Aramco is responsible for producing roughly one out of every eight barrels of the world's oil supply and is a leader in developing new energy technologies.

Dhahran — Saudi Aramco, one of the largest corporate entities in the world, has denied reports of its plans for Bitcoin mining.

An Aramco official statement issued on Monday has said, “With reference to the recent reports that claimed the company will embark on Bitcoin mining activities, Aramco confirms that these claims are completely false and inaccurate.”

A global giant as an integrated energy and chemicals company, Saudi Aramco is responsible for producing roughly one out of every eight barrels of the world’s oil supply and is a leader in developing new energy technologies. — WAM