Argentine Presidential Candidate Sergio Massa Proposes Bitcoin Mining Using 'Dead Cow' Gas

Presidential candidate in Argentina, Sergio Massa, has put forth a contentious proposal to mine Bitcoin BTC/USD using surplus gas from the “Vaca Muerta” (Dead Cow) oil fields, sparking debate within the country’s cryptocurrency community.

The plan was pitched to Massa by computer scientist Santiago Siri and includes using the excess gas from Vaca Muerta, a significant shale oil and gas deposit in western Argentina, to power Bitcoin mining operations, reported Decrypt. Supporters argue this would enable the gas to be put to better use rather than being flared or vented.

Despite this, the proposal has been met with skepticism from Bitcoin miners and advocates. During a recent online forum hosted by the Bitcoin Argentina NGO, participants contended that Bitcoin mining is overly complex and competitive for the government to get involved in.

See Also: Bitcoin, Ethereum, Dogecoin Swing In Mixed Trade Ahead Of Fed Interest Rate Decision: Analyst Sees ‘Gorgeous’ Pattern As Catalyst For Potential BTC Breakout

The CEO of Cryptogranjas, José María Sarasola, who runs a Bitcoin mining operation in Vaca Muerta, outlined the extensive infrastructure required for such an endeavor, including reliable internet, efficient machines, and technical knowledge.

However, Ricardo Mihura, President of Bitcoin Argentina, and Rodolfo Andragnes, co-founder of Bitcoin Argentina, both voiced that the government should focus on improving conditions for private mining ventures rather than direct involvement.

While this proposal indicates growing mainstream acceptance of Bitcoin in Argentina, even local crypto enthusiasts agree that the risks of government-backed Bitcoin mining outweigh the potential benefits. For now, the private sector appears best suited to exploit the opportunities presented by Vaca Muerta’s natural gas reserves.

Read Next: Former FTX CEO Sam Bankman-Fried Found Guilty On All Criminal Fraud Charges — Faces Up To 115 Years In Prison

Photo by Morrowind on Shutterstock