Giga's new site harnesses otherwise wasted energy from natural gas flaring and has already mined between $200,000 and $250,000 worth of Bitcoin, says the firm's co-founder.
Texas-based Bitcoin (BTC) miner Giga Energy has expanded its operations into Argentina as part of a move to utilize wasted energy from "natural gas flaring" on the South American nation's oil fields.
Giga co-founder Brent Whitehead described the expansion as a “significant milestone” for his firm in a March 26 post on LinkedIn.
Gas flaring is the burning of the natural gas associated with oil extraction. Methane is released as part of the process, which Giga then converts into electricity to power its Bitcoin mining rigs.
