According to Cointelegraph, Buenos Aires-based oil company Tecpetrol plans to convert excess gas into energy for cryptocurrency mining. The company will launch its first gas-powered crypto mining facility in the Los Toldos 2 Este region, north of Vaca Muerta in Argentine Patagonia. Tecpetrol believes this approach will advance its crude oil production project and optimize gas utilization, reducing waste.

Tecpetrol aims to drill at least 35,000 barrels of oil daily at the facility. However, due to the lack of infrastructure to consume the gas released during the process, the company decided to explore crypto mining as a strategic choice. Tecpetrol CEO Ricardo Markous stated that the company opted for cryptocurrency mining operations due to their inability to release the gas into the environment. The company plans to begin crypto mining between late October and early November, with the primary goals of reducing environmental impact by avoiding gas emissions and generating additional profits. Tecpetrol has signed contracts and is collaborating with an unnamed firm experienced in implementing similar strategies in the United States.

A recent paper published by the Institute of Risk Management (IRM) suggests that Bitcoin mining could reduce global emissions by up to 8% by 2030 by converting the world's wasted methane emissions into less harmful emissions. The report cited a theoretical case in which captured methane is used to power Bitcoin mining operations, reducing the amount of methane vented into the atmosphere.