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.


Advancing Federal Regulation of Blockchain and Cryptocurrency: A Focus on Sullivan & Worcester’s Initiatives

Key Points of FIT21 Legislation and Potential Impact The U.S. House of Representatives made history on May 22, 2024, by passing H.R. 4763, also known...

Is this a signal of Bitcoin hitting bottom? German government depletes BTC supply

German Government Running Out of Bitcoin to Sell, Potential Reaccumulation Phase Beginning The German government is nearly done selling Bitcoin, with only 3,856 BTC left...

Could a Trump presidency improve the sentiment problem in the crypto industry?

The Trump Trade: How a Potential Trump Presidency Could Impact Crypto Markets The race for the presidency is heating up, and it seems that former...

Justin Sun, Tron Founder, Invests $5 Million in ETH

Tron Founder Justin Sun Invests $5 Million in Ethereum (ETH) Tron Founder Justin Sun Invests $5 Million in Ethereum Amid Spot ETF FOMO Justin Sun, the...

Most Popular