HomeBitcoinArgentina Harnesses Stranded Gas for Bitcoin Mining with GDA Technology

Argentina Harnesses Stranded Gas for Bitcoin Mining with GDA Technology

-


Genesis Digital Assets Partners with YPF Luz to Open Bitcoin Mining Facility in Argentina

Genesis Digital Assets Limited, one of the largest Bitcoin mining companies in the world, is making waves with its latest expansion into Argentina. The company has announced a partnership with YPF Luz, a subsidiary of Argentina’s largest electricity company, to open a new bitcoin mining facility in Neuquén Province.

This facility, located at the Bajo del Toro Thermal Power Plant, will utilize stranded gas to power 1,200 bitcoin mining machines. This innovative approach not only helps mitigate the environmental impact of stranded gas but also allows for the monetization of resources that would otherwise go to waste.

In an interview, Executive President of GDA Abdumalik Mirakhmedov highlighted the favorable climate for crypto in Argentina, citing the country’s pro-innovation stance and growing adoption of cryptocurrencies as key factors in the decision to expand operations there.

This move marks a significant shift in the bitcoin mining industry, as Latin America has not traditionally been a major hub for such operations. With Argentina now joining the ranks of countries like Paraguay and Venezuela in embracing bitcoin mining, GDA’s expansion could pave the way for further growth in the region.

Despite regulatory challenges in Argentina’s crypto industry, GDA’s decision to establish a presence in the country underscores the potential it holds for bitcoin miners. As the industry continues to evolve, it will be interesting to see how this partnership between GDA and YPF Luz shapes the future of bitcoin mining in Latin America.

LATEST POSTS

Did the Ethereum ETFs catch the market off guard? Have they already been factored into prices?

Market Analysts Anticipate Impact of Ethereum ETF Approvals on Price and Trading Activity The anticipation and excitement surrounding the approval of Ethereum ETFs have sent...

Biden campaign surprises with increased outreach to crypto industry

President Biden's Re-Election Campaign Seeks Guidance from Crypto Industry Players President Joe Biden's re-election campaign is making waves in the cryptocurrency industry as they reach...

Forecast: The Bitcoin Halving Expected to Drive Surge in These Cryptocurrencies

Top Cryptocurrencies to Watch After the Bitcoin Halving: Layer 1 Blockchain Networks and AI Crypto Tokens The recent Bitcoin halving has sparked excitement among crypto...

The OP_CAT proposal has the potential to revolutionize the Bitcoin blockchain

The Rise of Runes: A Historical Moment for Bitcoin DeFi The Launch of Runes Token Standard: A Historical Moment for Bitcoin DeFi or a Passing...

Most Popular