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VisitGenesis, YPF Luz Launch Bitcoin Mining Center in Argentina Using Stranded Gas
May 8, 2024, 10:51 AM
Genesis Digital Assets has partnered with YPF Luz, a subsidiary of Argentina's state-owned energy company, to launch a new Bitcoin mining center in Argentina. The facility, with a total capacity of 7 MW, will utilize electricity generated from stranded gas, a byproduct of oil extraction that is typically flared into the atmosphere. This initiative will repurpose the flared gas to power 1,200 bitcoin mining machines, aligning with environmental goals by reducing gas flaring.
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Markets
Yes • 50%
No • 50%
Official release or report from Genesis Digital Assets or YPF Luz
No • 50%
Yes • 50%
Press releases or expansion announcements from Genesis Digital Assets or YPF Luz
Yes • 50%
No • 50%
Environmental impact report or statements from Genesis Digital Assets or YPF Luz
Partially achieved • 34%
Not achieved • 33%
Fully achieved • 33%
Environmental assessments or public statements from Genesis Digital Assets or YPF Luz
Increase by less than 50 jobs • 33%
Increase by more than 100 jobs • 34%
Increase by 50 to 100 jobs • 33%
Local employment reports or statements from Genesis Digital Assets or YPF Luz
500 to 1000 BTC • 34%
Under 500 BTC • 33%
Over 1000 BTC • 33%
Official financial or operational reports from Genesis Digital Assets