Argentina’s largest electricity company, YPF Luz, has entered into an agreement with Genesis Digital Assets Limited (GDA). The partnership will establish a new Bitcoin (BTC) mining facility in the Bajo del Toro Thermal Power Plant, with 1,200 mining machines that use stranded gas for power generation.
According to YPF Luz CEO Martín Mandarano—as reported by Forbes on May 7—the company has been generating electricity from mining since 2022. In this new partnership, the facility will have a total capacity of 7 MW, with an additional 1 MW backup. GDA Executive President Abdumalik Mirakhmedov stated that Argentina’s pro-innovation climate for crypto has never been stronger.
Furthermore, Mirakhmedov highlighted the significant portion of Argentina’s population that already uses cryptocurrencies and stablecoins as inflation hedges.
“Although we’ve been considering expanding to Argentina for years, the political and pro-innovation climate the country has fostered f
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