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Texan Bitcoiners Start Mining In Argentina Using Flared Excess Gas
Two Texas-based bitcoin miners have turned to the foothills of the Andes mountains in Argentina to mine bitcoin using flared natural gas. CNBC reports: Brent Whitehead and Matt Lohstroh, both graduates of Texas A&M University, have been mining bitcoin on the oil fields of East Texas since 2019....
That's when they founded Giga Energy with the goal of taking flared natural gas and turning it into electricity to run bitcoin mines, which are notoriously power-thirsty. The process reduces CO2-equivalent emissions by about 63% compared to continued flaring -- or burning -- of unused gas, according to research from Denver-based Crusoe Energy Systems. On the small pilot site in Argentina, Exa Tech is handling operations on the ground, Phoenix Global is providing the gas and Giga is supplying the equipment.
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