Volato Ventures into Bitcoin Mining and Aviation Integration
Volato (TMB, Houston Hobby) has shifted gears dramatically after selling its flight operations in 2024, turning its focus to bitcoin mining as a new business line. The New York Stock Exchange-listed company revealed on February 24 that it has already begun mining bitcoins at ground level and plans to hold the cryptocurrency on its balance sheet starting in the first quarter of 2025.
CEO Matt Liotta highlighted the company’s unique vision: “We believe the Citation CJ is the right platform to start with as we explore how aviation and cryptocurrency mining intersect.” Although details remain scarce on exactly how Volato intends to integrate its cryptocurrency mining technology with Cessna Citation CJ operations, the move signals a pioneering approach to merging two traditionally distinct industries.
The company’s current approach involves launching ground-based mining operations, which will serve as a testing ground for Volato’s patent-pending aviation bitcoin mining technology. This initial phase is designed to help the company gain firsthand experience in mining operations while it continues to develop innovative concepts for an in-flight solution.
Volato’s choice of the Citation CJ is strategic. With 1,545 Cessna 525 Citations operating in the United States alone, the Citation CJ is renowned for its popularity, efficient certification process, and high utilization rates. The operator believes that leveraging this widely used business jet can create a new “enthusiasts’ product” that integrates aviation with the energy-intensive process of cryptocurrency mining.
Once a fractional ownership operator for HA-420 and G280 aircraft, Volato sold that business to FlyExclusive (JRE, Kinston) in 2024 and subsequently retired the last aircraft from its Part 135 certificate. Today, the company has transitioned into a software-centric business, offering an empty leg booking system and mission control software. The recent move into bitcoin mining represents an ambitious diversification strategy, as Volato seeks to redefine its role in both aviation and technology sectors.
The sector of cryptocurrency mining itself is facing challenges due to its high energy consumption and increasing regulatory scrutiny. These factors have prompted the industry to seek out innovative mining models, and Volato’s initiative to explore mining from the air is a bold experiment in this evolving landscape.
As Volato forges ahead with its novel integration of aviation and crypto mining, the industry will be watching closely. While the concept of in-flight mining remains unproven, the company’s current ground-based operations are expected to lay the foundation for future advancements. With its track record of innovation in aviation and software, Volato’s new venture could potentially open up fresh revenue streams and reshape the way aviation assets are utilized in the digital age.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com