PASSA Meeting

San Antonio COPAS Society

Tuesday, May 24, 2022, 11:00 AM – 1:00 PM (lunch provided)

San Antonio Petroleum Club

Sign-in Begins at 11:00 AM

SPEAKER: Matt Milligan

Topic:  Crypto Mining Using Natural Gas

Course Description: 

This presentation will provide a basic overview of crypto mining using natural gas as the energy input.  This course will be a general overview of the crypto industry with focus on how the crypto market functions and the associated terminology.  In addition to outlining the current tax rules applicable to crypto miners, the presentation will cover leasing, royalty, security, insurance, and reporting compliance issues that arise from the use of natural gas to power a crypto farm.  Lastly, the presentation will cover the current environment in the crypto industry and best practices for the implementation of a crypto farm.

Learning Objectives:

1. Understand the basics regarding crypto currencies and crypto mining.
2. Be informed of the considerations of crypto mining using natural gas energy inputs.
3. Obtain a better understanding of the crypto industry and current developments in the industry.

Speaker Bio:

Matt obtained both his bachelors and master’s degrees in accounting from Trinity University.  His career started at KPMG, where he was a public auditor focused primarily on the Financial Service and Governmental sectors.  After five years with KPMG, Matt transitioned to the Controller position of an investment firm providing investments in tangible assets ranging from oil and gas, pipelines, water rights, and real estate.  Matt worked for six years with the investment firm eventually assuming the title of CFO.

After working at the investment firm, Matt wanted to gain a more substantial understanding of the oil and gas industry and went to work for a traditional oil and gas operator and driller.  Matt was the CFO of the operator and driller for over nine years and handled all the financial aspects of the operation.  Matt is a licensed CPA and a full Accredited Petroleum Accountant.  As he is both a CPA and APA, Matt has also worked as an expert or fact witness in numerous litigation matters.

Currently, Matt is an independent consultant providing fractional CFO/Controller services, litigation support, and forensic accounting with a focus on the upstream energy industry.  When not working, Matt spends most of his time with his wife chasing his three boys aged 8, 5, and 3.