Argentina’s energy sector is increasingly turning its attention to Bitcoin, this time at a state-owned facility that taps stranded natural gas from oil fields that would otherwise be thrown away.
Just in: 🇦🇷 Subsidiary of Argentine state-owned company conducts mining $BTC About Drifting Gas: Forbes
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YPF Luz, a subsidiary of state energy company YPF, recently Genesis Digital Assets (GDA) Launch a mining facility using gas flares. The 1,200 machines will be used to monetize the gases currently being released into the atmosphere.
This comes as Argentina embraces Bitcoin with the election of Bitcoin supporters. President Javier Millay At the end of 2023.
By reusing stranded gas that is currently burned as waste, GDA estimates that mining operations could reduce carbon emissions by up to 63%. This shows how Bitcoin mining can convert energy byproducts into productive use.
“This will be another opportunity to show the world that Bitcoin mining has a positive impact on the environment and can be fully integrated into local communities,” GDA founder Abdumalik Mirakhmedov said. .
For YPF Luz, monetizing retained gas offsets costs and promotes sustainability.
For GDA, this means competitive energy pricing and reduced carbon emissions. For Argentina, this shows leadership in leveraging Bitcoin mining to strengthen its energy infrastructure.
The news reflects how other countries are using Bitcoin mining to “clean up” their energy grids. mines in bhutan Bitcoin powered by renewable hydropower consumes seasonal surplus; el salvador Harness geothermal energy to power mining without carbon emissions.
Milakhmedov cited Argentina’s energy resources and friendly regulations as ideal conditions for the facility.
As Bitcoin mining expands around the world, projects like GDA and YPF are introducing templates for reducing stranded gas flaring through productive Bitcoin mining.
