A presidential candidate in Argentina has proposed to mine Bitcoin with natural gas residuals, but his plan is facing skeptical reactions.
The plan, proposed by conservative presidential candidate Julio Dergano, would use the excess natural gas from oil extraction operations to generate electricity to power Bitcoin mining operations. Dergano has argued that this would be a step in the right direction when it comes to Argentina’s energy issue as it would create jobs and reduce costs related to electricity.
Although the plan has been welcomed by some in Argentina, it has been greeted with skepticism by others. Critics point to the inherent volatility of the cryptocurrency market, arguing that mining Bitcoin is too risky and that ensuring a safe, sustainable energy supply should take priority.
Moreover, the Argentine government is unlikely to approve the plan in its current form because it goes against the country’s policy of avoiding the use of non-renewable energy sources.
Overall, Dergano’s proposal has sparked a debate in Argentina and has highlighted some of the issues with energy and cryptocurrency in the country. Whether the plan will be adopted or not remains unclear, but it has definitely brought the issue into the spotlight.