The energy generating company YPF Luz announced this Tuesday the start-up of a thermal power plant in the Argentine province of Neuquén that will provide electricity to the bitcoin mining company Genesis Digital Assets Limited (GDA).
The Bajo del Toro thermal power plant has an installed capacity of 8 megawatts and is fed with residual or vent gas (flare) from oil company operations in the colossal unconventional hydrocarbon formation of Vaca Muerta, in southwestern Argentina.
The new electricity generation plant is owned by a temporary joint venture (UTE) made up of the Norwegian state oil company Equinor, the oil company YPF – controlled by the Argentine State – and YPF Luz, a company owned by YPF, the American company General Electric and the Chinese state investment fund Silk Road Fund.
As reported by YPF Luz in a statement, this UTE has signed an energy sale agreement with Genesis Digital Assets that authorizes the installation of a data center within the plant located in Rincón de los Sauces (Neuquén) and supplies 1,200 equipment. cryptocurrency mining.
“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”said GDA CEO Abdumalik Mirakhmedov.
Source: Gestion
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