Argentina’s state-owned energy company YPF said in a statement that it was an unnamed international company. cryptocurrency He said he was supplying energy to the mining company.
Argentina State Energy Company Starts Cryptocurrency Mining From Waste Natural Gas Source On A Trial Purpose
YPF Luz CEO Martín Mandarano told national news agency Télam that YPF Luz, the renewable energy arm of YPF, launched a 1-megawatt (MW) cryptocurrency pilot operation three months ago that provides energy from waste gas leftover from oil production. .
The project is located in the south of Argentina in an area known for its shale oil and gas resources called Vaca Muerta (Dead Cow).
Mandarano said the company plans to open a second 8MW test facility before the end of the year.
Mandarano continued his statements on cryptocurrency mining as follows:
“We have started to use the products that emerge in natural gas production and exploration studies and are burned as waste under normal conditions, as a cryptocurrency mining experiment with a sustainability and business vision.”
In June, using waste natural gas as a power source, Bitcoin (BTC) Crusoe Energy, a private US company that pioneered mining, announced that it was expanding to these two countries after receiving investment from sovereign wealth funds of Oman and Abu Dhabi.
The regions in the south of Argentina are often preferred by Bitcoin miners as they are both rich in natural resources and extremely cold regions. BTC miners save on cooling costs thanks to cold weather.
*Not investment advice.
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