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Genesis Digital Assets (GDA), a major player in Bitcoin mining, has teamed up with YPF Luz to launch a new mining facility in Argentina, leveraging stranded gas at the Bajo del Toro Thermal Power Plant. This innovative approach not only prevents harmful gas flaring but also provides a lucrative use for these otherwise wasted resources. With 1,200 machines and 7 MW capacity, GDA’s first Latin American operation in Rincón de Los Sauces marks a strategic move in a region historically underserved in the Bitcoin mining sector.
Executive President Abdumalik Mirakhmedov highlights the favorable political climate and pro-innovation stance in Argentina as key drivers for this expansion. Amidst high inflation, a significant portion of Argentines turn to cryptocurrencies, positioning Bitcoin as a viable economic stabilizer. This initiative aligns with growing recognition across Central and South America of crypto’s potential to address economic challenges.
As Argentina welcomes more Bitcoin mining operations, it sets a precedent for the industry’s growth in Latin America. The combination of sustainable energy sources, attractive electricity prices, and supportive regulatory environment makes Argentina a hotspot for future expansions, further cementing its pivotal role in the global Bitcoin mining landscape.
