Tecpetrol Raises Crude Oil Production Fivefold With Crypto Mining In Argentina

Tecpetrol, an oil and gas company based in Argentina, has experienced a substantial increase in crude oil production by incorporating crypto mining operations into its activities. By utilizing on-site vented gas generators to mine cryptocurrency, Tecpetrol has managed to boost oil production fivefold in its Los Toldos II exploration project, situated in the Vaca Muerta oilfield. CEO Ricardo Markous explained that this innovative approach capitalizes on gas that would otherwise be unutilized due to the project’s lack of infrastructure for transportation and processing. The collaboration between Tecpetrol and emission-mitigating company Unblock has resulted in the conversion of the unexploitable gas to power generators and modular data centers for crypto mining. This unique strategy has not only significantly increased oil production, but it has also reduced greenhouse gas emissions by 11% compared to traditional gas flaring methods. To maximize the potential of flared gas bitcoin mining, Unblock secured $15 million in funding with the support of Crusoe Energy, Pampa Energia, and Petrocuyo.