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<h2 id="header-0">A initiative to use leftover gas to power bitcoin mining operations is now being tested by YPF Luz, a division of the state-owned Argentine oil corporation YPF.</h2>The project aims to make use of this residue from the earliest stages of oil well drilling and is presently being tested in Vaca Muerta, one of the largest oil fields in the nation.An Argentine company called YPF Luz uses oil wells to mine bitcoin.Cryptocurrency miners are constantly looking for innovative ways to obtain accessible, affordable power sources for their mining operations. A pilot project is being conducted by YPF Luz, a division of the state-owned YPF in Argentina, to use flared or leftover gas to power <a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" rel="noopener noreferrer nofollow">bitcoin</a> mining facilities. This operation, which has been operating for three months in the country&#39;s largest oil field, Vaca Muerta, aims to utilise the gas that would otherwise be burned.The only way to utilise the gas in these oil fields is to lure interested parties to the zone because it cannot be transported to other locations for usage. Customers of YPF Luz already pay for this type of power, which is generated on-site with generators set up during the drilling phase of oil wells.Clientele and MethodologyMandarano also discussed the company&#39;s relationship with these clients and how they pay for the electricity provided. The payment varies and is sometimes based on the value of the resource that is mined on global markets, and other times the corporation sets the price. He did not, however, identify the circumstances under which a corporation might make a payment.Given the nature of the operations, the equipment must be relocated once the well digging for the generator installation is complete. This is unaffected, though, as the apparatus is made to be portable and modular so that it may be swiftly transported to different sites.Like Bitfarms, which has recently began operations in a facility in Rio Cuarto, other significant mining companies have already established a presence in Argentina.

Argentine Oil Subsidiary YPF Luz Uses Residual Gas to Power Bitcoin Mining Activities

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