Bitcoin

In a significant move towards sustainable energy utilization, <a href="https://ultramining.com/news/en/genesis-digital-assets-stala-obektom-krupnyh-vlozhenij-alameda-research-2/">Genesis Digital Assets</a> Limited (GDA) has partnered with YPF Luz to launch a new Bitcoin mining operation in Argentina, leveraging stranded gas as a power source. This initiative, a first for GDA in Latin America, aims to monetize wasted gas resources while reducing environmental impact, according to <a href="https://www.forbes.com/sites/digital-assets/2024/05/07/argentina-will-mine-bitcoin-with-stranded-gas-thanks-to-gda/?sh=64802ec045f9">Forbes</a>. 
The operation is set up at the Bajo del Toro Thermal Power Plant in Neuquén Province, designed to run 1,200 bitcoin mining machines with a total capacity of 7 MW, plus a 1 MW backup. This setup not only capitalizes on stranded gas—which would otherwise be flared into the atmosphere—but also ensures it does not detract from the <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/">electricity</a> supply needed for Argentina's internal demand. 
The move is part of a broader trend across Central and South America, where countries are increasingly recognizing the potential of cryptocurrencies as solutions to economic issues like high inflation. Argentina, in particular, has become a focal point for such innovations, providing an ideal environment for crypto-related expansions due to its favorable <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/">electricity prices</a>, potential for development, and commitment to sustainable energy sources.

Argentina Embraces Bitcoin Mining with New Stranded Gas Initiative

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