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Bitcoin

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<h4><strong>This partnership launches a new Bitcoin mining facility uniquely powered by stranded gas.</strong></h4> 
<p>Located at the Bajo del Toro Thermal Power Plant and operated by YPF Luz, this venture is a pioneering step in Latin America. It is specifically situated in Rincón de Los Sauces, Neuquén Province.</p> 
<h4><strong>Launching Latin America’s First Gas-Powered Bitcoin Mining Operation</strong></h4> 
<p>The facility, which boasts a total capacity of 7 MW with an additional 1 MW backup, will power 1,200 BTC mining machines. This initiative aims to monetize stranded gas, which is usually flared into the atmosphere as a byproduct of oil extraction. It does so by using this gas to generate electricity for <a href="https://www.altcoinbuzz.io/?s=bitcoin" target="_blank" rel="noopener">Bitcoin</a> mining. This method not only presents a profitable use for previously wasted resources. Also, it aligns with growing environmental concerns by reducing harmful emissions.</p> 
<p>Martín Mandarano, CEO of YPF Luz, highlighted that the company has been involved in generating electricity from mining operations since 2022. The new mining operation in Argentina leverages this experience, marking a significant expansion in its capabilities and geographic footprint.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">NEW: Argentina Will Mine <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> With Stranded Gas Thanks To GDA, per <a href="https://twitter.com/Forbes?ref_src=twsrc%5Etfw">@Forbes</a> <a href="https://t.co/EVX7jqe3ZU">pic.twitter.com/EVX7jqe3ZU</a></p> 
 <p>— Simply Bitcoin (@SimplyBitcoinTV) <a href="https://twitter.com/SimplyBitcoinTV/status/1788106642698944686?ref_src=twsrc%5Etfw">May 8, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>During an <a href="https://www.forbes.com/sites/digital-assets/2024/05/07/argentina-will-mine-bitcoin-with-stranded-gas-thanks-to-gda/?sh=7abf576445f9" target="_blank" rel="noopener">interview</a> with Forbes, Abdumalik Mirakhmedov, Executive President of GDA, expressed enthusiasm about the venture. He noted that the political and innovation-driven environment in Argentina regarding cryptocurrencies, particularly Bitcoin, has grown exceptionally favorable. Mirakhmedov also pointed out the high adoption rate of cryptocurrencies and <a href="https://www.altcoinbuzz.io/?s=stablecoin" target="_blank" rel="noopener">stablecoins</a> among the Argentine population, who use these digital assets to hedge against the country’s high inflation rates.</p> 
<h5><strong>More About Bitcoin Mining in Argentina</strong></h5> 
<p>This strategic move by GDA and YPF Luz is seen not just as a business expansion. But,&nbsp; also as a solution to broader economic challenges in the region. The adoption of cryptocurrency as a hedge against inflation is a testament to its potential as a stabilizing force in economies plagued by financial instability.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">JUST IN: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1e6-1f1f7.png" alt="🇦🇷" class="wp-smiley" style="height: 1em; max-height: 1em;"> Argentina state-owned company’s subsidiary will mine <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> with Stranded Gas: Forbes</p> 
 <p>Eventually, every country will be mining <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/bu6sCXEUJ1">pic.twitter.com/bu6sCXEUJ1</a></p> 
 <p>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1788159673817854150?ref_src=twsrc%5Etfw">May 8, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>&nbsp;</p> 
<p>Countries in these regions are looking to innovative technologies like Bitcoin mining to address economic issues while also tapping into new technological advancements for energy utilization.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/ypf-luz-gda-start-gas-based-bitcoin-mining-in-argentina/">YPF Luz, GDA Start Gas-Based Bitcoin Mining in Argentina</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

YPF Luz, GDA Start Gas-Based Bitcoin Mining in Argentina

Altcoin Buzz

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