![]() ![]() In the U.S., privately owned mining firms are testing powering their plants using flared gas, a by-product of the oil production process. In El Salvador, the government’s mining plant relies on geothermal energy. Fearing a mining moratorium, mining firms have begun exploring alternative energy sources like solar and hydroelectric. Globally, the call for block reward mining to rely on renewable energy sources has been amplified in recent years. Canadian Bitfarms seized the initiative to boost its hash rate with a mining plant in Rio Cuarto, Cordoba. With cheap electricity, mining firms began to take note, plotting their appearance in the country. Mining in Argentina spiked in 2021 due to the administrative inefficiencies and cheap energy stemming from power subsidies and FX controls. He disclosed that the second plant of 8MW will be ready by the end of the year. ![]() Mandarano added that his company has plans to build a second plant seven times larger than the one being built at Vaca Muerta. “We started to develop this generation pilot for cryptocurrency mining with a vision for sustainability and business from flare natural gas, which cannot be harnessed during exploration and at the beginning of the production of an oil field,” said Mandarano to Telam, a regional news outlet. The move comes on the heels of a public outcry about Bitcoin’s energy consumption in the face of the looming global energy crisis as winter approaches. Martin Mandarano, CEO of YPF Luz, told reporters that the operations of the new plant will be renewable, making use of the waste gas from previous oil production. ![]() The region, nestled in the Southernmost part of the country, is best known for its extensive shale oil deposits, a high-quality crude oil found between layers of shale rock. YPF Luz said in a statement that its role would be to supply energy to the mining giant, and in furtherance of the objectives, it had begun building a 1 megawatt (MW) plant in the heat of Vaca Muerta. YPF Luz, the renewable arm of YPF, has announced that it will be striking a partnership with an unnamed international mining company looking to set up shop in the South American company. A state-owned energy firm has thrown its hands in the ring to join the league of block reward miners operating in Argentina. ![]()
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