Genesis Digital Assets Limited (GDA), a prominent global leader in Bitcoin mining, has partnered with YPF Luz, a subsidiary of Argentina's state-owned energy firm YPF, to establish a unique Bitcoin mining facility.

This facility, located near Rincón de Los Sauces in Neuquén Province, harnesses untapped oil field gas for generating electrical energy. YPF, Equinor, and YPF Luz collectively operate the Bajo del Toro Thermal Power Plant that supplies power to 1,200 Bitcoin miners, using 7 MW of primary power and 1 MW of backup power.

By repurposing stranded gas that is usually wasted into the environment, the facility reduces carbon emissions significantly, as outlined by a recent MIT study. This move is crucial in combating global warming, considering methane's impact on the environment.

Argentina's abundance of energy resources, supportive governance, and growing acceptance of bitcoin in light of inflation make it conducive for such initiatives. The endeavor aligns with the country's energy goals and highlights YPF Luz's innovative approach to converting flare gas to electricity for bitcoin mining.

GDA's global reach has expanded with this project, now operating 20 data centers worldwide with a combined power capacity exceeding 500 MW. Their commitment to integrating renewable and underutilized energy sources reinforces their leadership and pioneering role in the Bitcoin mining sector.