There’s been an interesting development in the world of cryptocurrency mining.
A Texas-based Bitcoin mining company called Giga has just struck a partnership with Phoenix Global, a firm out in Argentina, to expand their operations from their home-base of Texas in search of those almighty Bitcoins.
It turns out Argentina has a sort of renewable energy Bitcoin miners can use to power their mining rigs. Giga is turning otherwise wasted methane gas from flare pipes into energy that’s used to power Bitcoin mining rigs.
It’s a strategic move, considering the growing concerns over the environmental impact of crypto mining. On top of that Argentina already has some pretty cheap electricity rates.
This partnership could also mean big things for Argentina’s economy, bringing in investment and job opportunities.
So next time you hear someone say crypto mining is hurting the environment, you can tell them most crypto mining is done using renewable energy, or natural gas that would have otherwise been released into the atmosphere.
Texan bitcoin miner Giga partners with Phoenix Global in Argentina