Giga Energy has started Bitcoin mining in Argentina
Texas-based mining company Giga Energy has expanded bitcoin mining activities using energy from flaring gas to Argentina.
The firm has started operations at a large shale oil and gas field in Mendoza province called Vaca Muerta.
Giga Energy's approach is to place shipping containers with thousands of miners next to oil rigs. The extracted associated gas is sent to generators, which, by burning it, generate energy to power the plants.
At the first stage, the company implements a pilot project to assess the profitability of a potential enterprise. Giga Energy began operations in Argentina in December 2023 and, according to estimates, has mined cryptocurrency in the amount of $200,000-$250,000.
Giga Energy's partners in Argentina are Phoenix Global mining company and Exa Tech IT firm.
The mining enterprise in 2019 was organized by two graduates of Texas A&M University, Brent Whitehead and Matt Lochstroh. The initial investment amounted to their own savings.
According to Lohstroh, Giga Energy's revenue has exceeded $10 million since the beginning of the year.
Source: https://forklog.com/news/giga-energy-nachala-majning-bitkoina-v-argentine
