We’ve covered rather a lot about crypto mining so far on our blog, but nothing quite like this. Argentina, one of Latin America’s shining lights in the crypto mining industry, is innovating in a way which seems set to cement their position on the global stage.
Argentina is one of the world’s biggest players in the agricultural industry, with a 5.9% compound annual growth rate (CAGR) expected between 2020 and 2025 and considering the value of Argentine agricultural exports topped US$37 billion in 2019, the projected growth is moving towards astronomical values.
Though, where there is growth in an industry such as agriculture, there is a consequent increase in demand for the processes through which products are produced, and, unavoidably, an increase in waste levels.
What is agricultural waste?
In short, agricultural waste are any by-products that result from agricultural processes, including animals, factories or forestry. This is evidently going to be a pretty big issue in a nation where this is one of the main industries, releasing toxic contaminants into the environment.
However, the innovation taking place in Argentina through AgTech and BioTech, as well as the sustainable development of energy to power Bitcoin miners through converting this waste, is creating a pathway towards eco-friendly approaches to agricultural activities and the by-products resulting from them.
How will it be converted into cryptocurrency?
Below you can find an outline of the exciting, albeit different, process being used to mine BTC in Argentina:
1. Agricultural waste is saved and stored in ‘biodigesting’ storage containers
2. Bacteria is integrated within the waste to stimulate the production of methane gas
3. The gas is then used to spin a turbine and generate electricity
4. The electricity is used to power mining computers
5. Bitcoin is mined
In theory, the process is as simple as generating other forms of electricity and is also sustainable. This creates an exciting dynamic for you to consider as an investor regarding future mining operations, and also demonstrates the scope within Argentina for developing this method of mining to refine its efficiency into the near future, especially given the size of the agricultural industry and consequent supply of waste to generate electricity to mine Bitcoin.
So, if you are interested in finding out more about Argentina’s plan to convert agricultural waste products into cryptocurrency, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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