Argentina’s energy sector is increasingly turning to Bitcoin, this time with a state-owned facility using stranded natural gas from oil fields that would otherwise be wasted.<\/p>\n

JUST IN: \ud83c\udde6\ud83c\uddf7 Argentina state-owned company\u2019s subsidiary will mine $BTC<\/a> with Stranded Gas: Forbes<\/p>\n

Eventually, every country will be mining #Bitcoin<\/a> pic.twitter.com\/bu6sCXEUJ1<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) May 8, 2024<\/a><\/p>\n

State-owned energy firm YPF’s subsidiary, YPF Luz, recently partnered with Genesis Digital Assets (GDA)<\/a> to launch a gas flare-powered mining facility. It will harness 1,200 machines to monetize gas currently being flared into the atmosphere.<\/p>\n

This comes as Argentina embraces Bitcoin with the election of Bitcoin-friendly President Javier Milei <\/a>in late 2023. <\/p>\n

By repurposing stranded gas that is currently burned as waste, GDA estimates its mining operation could reduce up to 63% of the carbon emissions, which shows how\u00a0Bitcoin mining can transform energy byproducts into productive use. <\/p>\n

GDA founder Abdumalik Mirakhmedov said: “This will be yet another opportunity to show the world that Bitcoin mining can have a positive effect on the environment and can be fully integrated into local communities.”<\/p>\n

For YPF Luz, monetizing stranded gas offsets costs and drives sustainability.\u00a0<\/p>\n

For GDA, this means competitive energy pricing and reduced carbon output. For Argentina, it signals leadership in leveraging Bitcoin mining to enhance energy infrastructure.<\/p>\n

<\/a>
\n Click the image to learn more.<\/em><\/p>\n

The news mirrors how other countries are utilizing Bitcoin mining to “clean up” energy grids. Bhutan mines<\/a> Bitcoin with renewable hydropower to consume its seasonal excess, while\u00a0El Salvador<\/a> uses geothermal energy to power mining with no carbon footprint.<\/p>\n

Mirakhmedov cited Argentina’s energy resources and friendly regulations as ideal conditions for the facility. <\/p>\n

As Bitcoin mining expands worldwide, projects like GDA and YPF’s showcase a template for reducing stranded gas flaring through productive Bitcoin mining.<\/p>","protected":false},"excerpt":{"rendered":"

Argentina’s energy sector is increasingly turning to Bitcoin, this time with a state-owned facility using stranded natural gas from oil fields that would otherwise be wasted. JUST IN: \ud83c\udde6\ud83c\uddf7 Argentina state-owned company\u2019s subsidiary will mine $BTC with Stranded Gas: Forbes Eventually, every country will be mining #Bitcoin pic.twitter.com\/bu6sCXEUJ1 \u2014 Bitcoin Magazine (@BitcoinMagazine) May 8, 2024 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-24961","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/24961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=24961"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/24961\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=24961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=24961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=24961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}