Giga Energy, a Bitcoin mining company based in Texas, has recently expanded its operations to Argentina. This move comes as part of their strategy to utilize wasted energy from “natural gas flaring” on the oil fields in South America.
Brent Whitehead, co-founder of Giga, shared in a LinkedIn post that this expansion is a significant milestone for the company.
He also stated that it aligns with the company’s vision to tackle flaring globally. Natural gas flaring is the process of burning off excess natural gas during oil extraction. This process results in the release of methane, which Giga converts into electricity to power their Bitcoin mining rigs.
According to a report by CNBC on March 26, Giga’s expansion involves placing a large shipping container with thousands of Bitcoin miners on top of an oil well, redirecting the excess gas into generators, and using the energy to mine Bitcoin.
