Argentina To Mine Bitcoin With Stranded Gas

[Peter90]

Argentina's energy sector is increasingly turning to Bitcoin, this time with a state-owned facility using stranded natural gas from oil fields that would otherwise be wasted.

State-owned energy firm YPF's subsidiary, YPF Luz, recently partnered with Genesis Digital Assets (GDA) to launch a gas flare-powered mining facility. It will harness 1,200 machines to monetize gas currently being flared into the atmosphere.

This comes as Argentina embraces Bitcoin with the election of Bitcoin-friendly President Javier Milei in late 2023.

The news mirrors how other countries are utilizing Bitcoin mining to "clean up" energy grids.
Bhutan mines Bitcoin with renewable hydropower to consume its seasonal excess, while El Salvador uses geothermal energy to power mining with no carbon footprint.

zerohedge.com

[Lucius]

It is true that a huge amount of electricity is lost every year and that it is about 50 000 TWh, and that for comparison BTC mining consumes somewhere around 200 TWh, which refutes any crazy claim that Bitcoin can have anything to do with a serious impact on the environment. Therefore, any use of what would otherwise be completely useless has a positive effect on the economy of a country and creates additional value.

There were some stories that "El Loco" is somewhat pro-BTC, but this is the first time I read that something concrete is happening in that direction - although this is not a revolutionary idea that has not been talked about before.

[Peter90]

There were some stories that "El Loco" is somewhat pro-BTC, but this is the first time I read that something concrete is happening in that direction - although this is not a revolutionary idea that has not been talked about before.

Don't call him El Loco, Lucius

Since Milei is very against their Central Bank, the whole power system is against him.
The media defame him calling him El Loco - The Madman.
Last week someone prominent said Milei is a drug addict.

All the while, the inflation in Argentina has sunk.
His popularity is growing - The people in Argentina love him more and more.

Then you go on crypto forums and find crypto people siding with power and media.
 




I went on X
Put on Search "Milei" + "Bitcoin"
Scrolled down the results
It took me 60 seconds to find this




I wish this forum would support pro-bitcoin figures instead of siding with power and media in trashing them

[Lucius]

Don't call him El Loco, Lucius
Since Milei is very against their Central Bank, the whole power system is against him.
The media defame him calling him El Loco - The Madman.
Last week someone prominent said Milei is a drug addict.

As far as I know, that is his nickname, not given to him by the media or by someone who hates him for his ideas. There is no doubt that he has very drastic ideas, but I also personally do not think that he can change his country with them, especially if it is publicly known from which country he is asking for help, and which was the first one he visited after becoming president (US).

President-elect Javier Milei, known by the nickname “El Loco” since he was a kid, rose from university professor to social-media celebrity, making his mark as an economic libertarian and social libertine.

All the while, the inflation in Argentina has sunk.
His popularity is growing - The people in Argentina love him more and more.
~snip~

Considering the economic situation in that country, people simply like the change that has taken place, but it remains to be seen what the president will do during his mandate. As far as I know, his party does not have a majority and I don't know if he will be able to implement all the changes he wants, but time will tell if there will be positive changes or not.