An oil and gas giant is venturing into something unexpected: Bitcoin mining.

‍What’s happening:‍

• Buenos Aires, Argentina based Tecpetrol has launched a new pilot project in which they will use excess gas from their operations to power Bitcoin mining
  
• This is the first time Tecpetrol has ever entered the digital asset space and is part of a broader focus to find ways to lower harmful emissions
  

Why it matters:‍

• Converting methane emissions into renewable power for Bitcoin mining is a rapidly growing trend amongst venture backed startups
  
• Leading publicly traded Bitcoin mining company Marathon Digital (NASDAQ: MARA) recently announced their own pilot project in Utah for converting methane gas into electricity to power their data centres
  
• If these projects prove to be sustainable and profitable it could spark a movement of energy companies looking for ways to turn emissions into low cost power for mining operations of their own
  

By the numbers:‍

• The site in which Tecpetrol will be building their Bitcoin mining facility on is set to produce 35,000 barrels of oil per day
  
• Tecpetrol has over 800 oil and gas wells currently in production and represents approximately 15% of all gas output in Argentina