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This partnership with one of the country ’ s largest energy companies shows how Bitcoin mining can be a net positive for the environment .

The announcement comes during a period of expansion by GDA , which now operates 20 industrial-scale data centers across North America , South America , Europe and Central Asia .

The company ’ s first facility in South America is located in Rincón de Los Sauces , in the Neuquén Province and has a total capacity of seven MW and one MW of backup .

GDA ’ s new data center in Argentina

Abdumalik Mirakhmedov ( left ), Executive President and Founder of GDA ( left ) & Martín Mandarano , CEO of YPF Luz

The Bajo del Toro Thermal Power Plant , composed of YPF , Equinor and YPF Luz , will power 1,200 bitcoin mining machines and efficiently monetize stranded gas , which would otherwise be flared into the atmosphere .

Abdumalik Mirakhmedov , Executive President of GDA , said : “ We believe that Argentina is an important country for Bitcoin mining , given its abundance of energy sources and business-friendly environment .

“ The opening of our first data center in South America is an important step in our geographic diversification efforts . And this will be yet another opportunity to show the world that Bitcoin mining can have a positive effect on the environment and can be fully integrated into local communities .”

With an abundance of energy , a favorable political climate , and a strong crypto ethos , Argentina is becoming increasingly important for Bitcoin mining and the broader industry .

For the new data center , GDA will use the electricity generated from stranded gas provided by YPF Luz , an electric power generation company that has been leading the energy transition since 2013 .

As stated by the Intergovernmental Panel on Climate Change , methane gas adversely impacts the environment as it is responsible for approximately a third of the warming the world is experiencing . Methane mitigation techniques , such as the utilization of stranded gas , are important to reduce emissions and combat global warming .

As stated in a Massachusetts Institute of Technology working paper , Bitcoin mining could potentially reduce between 25 % and 63 % of carbon dioxide equivalent ( CO 2 e ) emissions by repurposing methane gas . “ In 2022 , we were the first Argentine company to generate electrical energy for cryptocurrency mining from flare gas , an innovative solution in line with YPF ’ s energy transition needs ,” said Martín Mandarano , CEO of YPF Luz .

“ This project with GDA allows us to bring YPF and Equinor , two companies committed to reducing the carbon footprint of their exploration activities , an adaptable and sustainable flare gas use solution .” •

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