YPF Is The First State-Owned Company In The World To Supply Residual Gas To A Cryptocurrency Mining Company

Written by Valdemar Medeiros

Published on 06/10/2022 at 10:30

Updated on 06/10/2022 at 10:31

Foto: YPF/Reprodução

Be the first to react!

Yacimientos Petrolíferos Fiscales (YPF) Will Provide Natural Gas to Cryptocurrency Mining Companies. YPF’s Supply Will Be 1 MW.

The Argentine energy state company Yacimientos Petrolíferos Fiscales (YPF) Luz has started a pilot project to make available natural gas that is residual from oil exploration, which would be lost, to be used in cryptocurrency mining. According to reports, the operation is taking place in the Vaca Muerta region, an essential oil and natural gas production center in Argentina. The Yacimientos Petrolíferos Fiscales operates in the region extracting commodities.

Supply of Residual Natural Gas for Cryptocurrency Mining Will Be 1 MW

The purpose of the project is to redirect part of the residual natural gas from Yacimientos Petrolíferos Fiscales’ oil extraction process, also known as Flare Gas, to a cryptocurrency mining operation in the same region, allowing it to operate using low-cost energy.

According to reports, the supply from Yacimientos Petrolíferos Fiscales will be 1 MW and the cryptocurrency mining operation is run by an international client of YPF.

ARTICLE CONTINUES BELOW

Payment for the Supply of Natural Gas May Follow a Blockchain-Linked Price

According to Mandarano, the company started to develop this pilot generation for cryptocurrency mining focusing on sustainability and business from residual natural gas, which cannot be used at the moment of exploration and at the beginning of oil field production.

Natural gas is a less polluting source compared to coal and oil, and its use by a mining operation avoids the environmental impacts associated with it during the oil extraction process. Under the project, cryptocurrency miners will pay Yacimientos Petrolíferos Fiscales for the supply, and this payment may be made at a fixed price or at a blockchain-linked price tied to the activity.

Natural Gas and Nuclear Energy Gain Space in the Cryptocurrency Mining Segment

Yacimientos Petrolíferos Fiscales did not specify which cryptocurrencies will be mined. According to a study conducted by the University of Cambridge released in September, still in 2021, natural gas and nuclear energy gained prominence as energy sources linked to the Bitcoin mining process.

Coal remains the main source, with 36.6% of the total, while hydropower reaches 14.9%. Natural gas rose from 12.8% in 2020 to 23% in 2021, while nuclear energy increased from 4% to 8.9%.

YPF Is The First State-Owned Company In The World To Supply Residual Gas To A Cryptocurrency Mining Company

Yacimientos Petrolíferos Fiscales (YPF) Will Provide Natural Gas to Cryptocurrency Mining Companies. YPF’s Supply Will Be 1 MW.

Supply of Residual Natural Gas for Cryptocurrency Mining Will Be 1 MW

Payment for the Supply of Natural Gas May Follow a Blockchain-Linked Price

Natural Gas and Nuclear Energy Gain Space in the Cryptocurrency Mining Segment

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

After 16 years and almost 600 prototypes, a Chinese inventor unveils the world’s smallest and cheapest manned jet, at just 3.80 meters long and costing US$7.2 thousand in materials.

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

In the driest desert on Earth, scientists find a living “oasis” 2 meters deep, where microbes survive in the dark, extracting moisture from minerals, as if it were a clue to finding life on Mars.

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

China can help protect the Amazon by increasing the purchase of sustainable meat and pressuring the market against deforestation.

Iraq announces discovery of 8.8 billion barrels on the Saudi border, and China takes control of the new fields as the US completes its military withdrawal.

Russia is building the world’s most powerful nuclear icebreaker with 150 MW and 2 reactors while the US has not delivered a new heavy one since 1999.

YPF Is The First State-Owned Company In The World To Supply Residual Gas To A Cryptocurrency Mining Company

Yacimientos Petrolíferos Fiscales (YPF) Will Provide Natural Gas to Cryptocurrency Mining Companies. YPF’s Supply Will Be 1 MW.

Supply of Residual Natural Gas for Cryptocurrency Mining Will Be 1 MW

Payment for the Supply of Natural Gas May Follow a Blockchain-Linked Price

Natural Gas and Nuclear Energy Gain Space in the Cryptocurrency Mining Segment

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

After 16 years and almost 600 prototypes, a Chinese inventor unveils the world’s smallest and cheapest manned jet, at just 3.80 meters long and costing US$7.2 thousand in materials.

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

USA discovers the world’s largest lithium deposit in a supervolcano extinct 16 million years ago, and GM targets batteries for 1.6 million electric vehicles per year.

Global oil market loses 1 billion barrels and energy tension increases risk of new global crisis, warns Aramco

What’s so special about this little Brazilian town to receive R$ 25 billion for a cellulose megafactory and have more people working than inhabitants?

China achieves the “impossible,” transforms air into aviation fuel, and could be the solution to the airline industry’s cost pressures.

In the driest desert on Earth, scientists find a living “oasis” 2 meters deep, where microbes survive in the dark, extracting moisture from minerals, as if it were a clue to finding life on Mars.

A Chinese factory in Guangdong is assembling a humanoid robot every 30 minutes while Tesla, Figure, and Boston Dynamics still struggle to deliver 10 thousand per year.

China can help protect the Amazon by increasing the purchase of sustainable meat and pressuring the market against deforestation.

Iraq announces discovery of 8.8 billion barrels on the Saudi border, and China takes control of the new fields as the US completes its military withdrawal.

Russia is building the world’s most powerful nuclear icebreaker with 150 MW and 2 reactors while the US has not delivered a new heavy one since 1999.