The agreement implies the creation of a new mining farm, where excess gas from oil fields will be used. The energy should come from the Bajo del Toro thermal power plant, which is jointly managed by YPF, YPF Luz and the Norwegian energy giant Equinor. The farm is located in Rincon de Los Sauces, Neuquen province. The capacity of the equipment will be 7 MW, additionally 1 MW of backup power will be available. The site will be able to accommodate 1200 mining devices.
YPF Luz CEO Martin Mandarano assured that the partnership is consistent with the strategic development of the Argentine energy industry. The use of excess energy for mining will reduce carbon dioxide emissions into the atmosphere and will contribute to more efficient use of flare gas, the energy director general is confident.
Genesis Digital Assets manages 20 industrial-scale data centers in North and South America, Europe and Central Asia. The total capacity of GDA mining facilities exceeds 500 MW.
In March, the American division of Greenpeace stated that the use of the Proof-of-Work (PoW) consensus algorithm for mining is accompanied by additional greenhouse gas emissions, overloading of power grids and increased tax costs.