Doug Hardwick

This transcript has been edited for clarity and readability. Minor changes have been made to improve flow while preserving the original meaning and conversational tone.

Henry Harrison:
Welcome to the Entrepreneurship, Business, and Finance podcast. We’re fortunate to have Doug Hardwick with us today. Doug, how are you doing?

Doug Hardwick:
I’m doing really good, Henry. How are you?

Henry Harrison:
Doing well. Let’s start with your background. We work together in oil and gas, but you have other ventures as well. How did you first get started in the oil and gas industry?

Doug Hardwick:
It goes back to around 2001 or 2002. A guy I had worked with in technology during the 1990s called me. He had moved into oil and gas and told me I needed to come work with him. That relationship is really what got me into the industry, and I’ve been in it ever since.

Henry Harrison:
A lot of people don’t immediately see the connection between technology and oil and gas, but it’s actually a major part of the business.

Doug Hardwick:
It really is. Oil and gas is one of the biggest consumers of technology in the world. You need technology to find oil, extract it, and refine it into usable products. It’s involved in every step.

Henry Harrison:
And when people think about oil and gas, they often picture drilling rigs. But the end products go far beyond fuel. They can even be something as critical as medical equipment in hospitals.

Doug Hardwick:
That’s exactly right. One of the biggest misconceptions is that oil and gas is only about fuel. In reality, the derivatives from crude oil and natural gas are used to create polymers, plastics, and countless everyday products. A huge portion of modern life depends on those refined products.

Henry Harrison:
Explain that process a bit further.

Doug Hardwick:
When oil comes out of the ground, it contains multiple components. I remember a well in West Virginia where paraffin would build up as the oil cooled, sometimes clogging production.

Once the oil is extracted and stored, it’s transported to a refinery. There, it goes through a process called cracking, where the different components are separated. Some of those components become polymers, which are then used to make plastics.

If you walk into a hospital, you’ll see plastic everywhere. It’s essential because it can be sterile, disposable, and helps reduce infection risks. Natural gas is also used in producing medicines and other products. The applications are extensive.

Henry Harrison:
And all of those products require manufacturing and transportation, which also requires energy. Electricity still has to be generated somewhere, and oil and gas are still a major part of that equation.

What initially drew you to the industry, and what has kept you in it for over 20 years?

Doug Hardwick:
I’ve always been fascinated by how much oil and gas impacts everyday life. It’s something society truly depends on, and I wanted to be part of that.

When I first started, I was on the drilling side—the upstream side. There’s something fascinating about watching a pump jack pull oil out of the ground.

I remember visiting my grandparents’ old property near Abilene and seeing a pump jack running. At the time, I didn’t know how to get into the industry, but it stuck with me.

Later, a client told me, “That pump jack is running 24/7, making someone money 24/7.” That idea of ongoing cash flow—what people call mailbox money—was very appealing.

Henry Harrison:
And for listeners, that typically comes from owning mineral rights or royalty interests.

Doug Hardwick:
Exactly. When you’re on the drilling side, you’re dealing with expenses. When oil prices drop, margins get squeezed. Regulations have also made it harder for smaller operators.

What really shifted my direction was building a relationship with a landman while working in West Virginia. Later, when I moved back to the Dallas-Fort Worth area, we reconnected and began working together in minerals.

Henry Harrison:
You’ve explored several ventures over the years—real estate, technology projects, even working with innovations out of national labs. Now you’re involved in crypto and mining. How did that come about?

Doug Hardwick:
It started with a phone call from someone in New York who had a mutual connection with me in Fort Worth. He asked if I knew anything about flared gas.

Around six months before that, I had started buying small amounts of Bitcoin just to learn about it. So when that call came in, it caught my attention.

Long story short, that relationship led to where I am today. Two years later, I’m the CEO of a Bitcoin mining company that’s actively mining Bitcoin.

Henry Harrison:
It’s interesting how these industries connect. Energy, technology, and efficiency all overlap—especially when you consider how much power data centers consume.

Doug Hardwick:
Exactly. Energy is a huge part of crypto mining. In oil and gas, you often have flared or stranded gas—gas that can’t be economically transported.

Instead of wasting it, we capture that gas, convert it into energy, and use it for Bitcoin mining.

We’ve found that smaller operators are often easier to work with in these situations. Larger companies usually already have systems in place.

I think over time, more exploration and production companies will add crypto mining as part of their operations. It’s a natural extension of what they’re already doing.

Henry Harrison:
Doug, you’re a great example of how entrepreneurship, energy, and finance intersect. I appreciate you coming on the show.

Doug Hardwick:
Thanks, Henry. I appreciate it. Have a great day.