In an effort to promote sustainable energy use, Genesis Digital Assets Limited (GDA) and YPF Luz have joined forces to establish a new Bitcoin mining operation in Argentina that utilizes stranded gas as its primary energy source. This partnership represents GDA's initial foray into the Latin American market and aims to make better use of wasted gas resources while lessening the environmental impact.

The mining facility is based at the Bajo del Toro Thermal Power Plant in Neuquén Province and is designed to support 1,200 bitcoin mining machines with a combined capacity of 7 MW and a backup of 1 MW. By utilizing stranded gas that would otherwise be released into the atmosphere, this setup ensures that it does not compete with the electricity supply required for Argentina's domestic needs.

This initiative reflects a larger trend in Central and South America, where countries are increasingly acknowledging the potential of cryptocurrencies to address economic challenges such as high inflation. Argentina, specifically, has emerged as a key player in embracing these innovations, offering an environment conducive to crypto-related expansions due to its competitive electricity prices, growth prospects, and dedication to sustainable energy sources.