Argentina started selling electricity to foreign miners

Argentina started selling electricity to foreign miners


Argentina started selling electricity to foreign miners
The first 1 MW data center was launched at the large oil field of Vaca Muerta

YPF Luz, an electricity subsidiary of Argentina's state oil company YPF, has launched a pilot project to mine cryptocurrencies on electricity generated from burning associated gas, its CEO Martin Mandarano said in an interview published by The 1 MW facility is located in the large Waka Muerta oil field developed by YPF and Chevron (USA).

The pilot project has already been running for three months. At the same time, a second project of about 8 MW is being developed, which will be put into operation by the end of the year in the area of Bajo del Toro.

The article notes that the mining is carried out by an international customer. Containers with equipment are installed in the Vaca Muerta Desert, in close proximity to generators and oil wells.

YPF Luz customers mine and pay for the electricity. According to Mandarano, when production at that well stops, the mining equipment and generators that convert the associated gas into electricity will be moved to other wells. He stressed the convenience of this method of utilizing associated gas compared to other options, which cause many logistical problems.

In June, it became known that BitRiver, a data center operator in Russia, would use the electricity produced by Gazprom Neft's associated gas for mining.

Other news

Bitcoin is growing without mass hype. When everyone starts talking about cryptocurrency
Traders in options are betting on Bitcoin to rise above $65,000.
How Bitcoin Halving Will Affect Its Price. Key Points from the Grayscale Report
Bitcoin has returned to growth and reached $45,000. What's next?
In London, the trial of the self-proclaimed creator of Bitcoin has begun.
One of the best months. What will happen to Bitcoin in February