By Susie Violet Ward · Forbes · 3 November 2023
During Argentina’s 2023 presidential campaign, candidate Sergio Massa suggested using surplus natural gas from the Vaca Muerta shale formation, which was being burned off or wasted, to power bitcoin mining. Supporters argued that this would reduce waste and create value from an unused resource, although the article notes that mining requires reliable infrastructure, efficient equipment and technical expertise, with narrower margins as prices fluctuated.
Ricardo Mihura, President of Bitcoin Argentina, suggested that the government should create favourable conditions for private miners, such as tax incentives and relaxed import rules for mining equipment, rather than mining directly, while others proposed public-private partnerships. The article reports that local bitcoin supporters generally saw the private sector as better placed, and argues that bitcoin could help counter Argentina’s persistent inflation.