British company FMI Minecraft is working on a project to mine the cryptocurrency Bitcoin using natural gas from Argentina’s Vaca Muerta.

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The project would be in the Zapala free trade zone in the province of Neuquén and source gas from the Vaca Muerta, or ‘Dead Cow’ shale formation.

“Vaca Muerta is great because there are more than 20 producers of good quality gas,” FMI partner Eduardo Meyer told NGI.

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The mining operation would initially involve 100 MW of gas-fired power, which would be expandable to 250 MW. Meyer said Argentina has “good suppliers of turbines and generators, and human resources.” He added, “there is a big...