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Author: Admin | 2025-04-28
Summary: Giga Energy, a Texas-based Bitcoin miner, moves operations to Argentina to repurpose wasted energy from natural gas flaring in oil fields. Giga will convert the released methane into electricity to power their mining rigs. The operation, which began testing in December, has already mined Bitcoin worth between $200,000 and $250,000. Giga awaits further equipment imports before scaling the operation completely. The company anticipates the effort will also help reduce global methane emissions. Giga Energy, a Bitcoin mining company hailing from Texas, has extended its operations into Argentina. This expansion seeks to exploit the wasted energy resulting from the "flaring" of natural gas in Argentine oil fields. On a LinkedIn post dated March 26, Brent Whitehead, Giga's co-founder, highlighted this move as a key step forward for the firm. The decision broadens not only Giga's operational reach but adheres to the company’s goal of globally abating gas flaring—a practice where natural gas, produced alongside oil extraction, is combusted. Giga taps into the methane released in this process, transforming it into electricity to sustain its Bitcoin mining hardware.As part of this enlargement, Giga will situate a large shipping container, housing thousands of Bitcoin miners, atop an oil well. Surplus gas will be diverted into generators; the resultant energy will power the Bitcoin mining rigs. This information was reported by CNBC on March 26.Giga’s mining site in Argentina—which is situated in the Mendoza province—has been undergoing tests since December and has already produced Bitcoin worth between $200,000 and $250,000, as indicated by Matt Lohstroh, Giga's second co-founder, in an interview with CNBC.However, full-scale operation is yet to commence as Giga awaits the import of necessary equipment. Until then, the firm anticipates running at a loss. As per a recent academic paper by the University of Michigan, Argentina is home to the world's second-largest shale gas reserve.Additionally, Whitehead emphasized to CNBC that the Bitcoin mining operation will help curtail methane emissions. Giga, through repurposing trapped natural gas to energize portable data centers built for energy-intensive computing, is taking active steps to cut global methane emissions.Exa Tech, an IT services company, will assist Giga
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