3 days ago
Colombian President Gustavo Petro stressed that the aboriginal of bitcoin mining indispensable beryllium ecological, arsenic countries with abundant greenish energy, including Paraguay and Venezuela, are attracting investments successful the sector. He besides warned astir the consequences of utilizing fossil fuels to powerfulness this activity.
Key Takeaways
- Colombia’s Gustavo Petro warned that fossil-fueled Bitcoin mining risks planetary clime collapse.
- Paraguay holds the 4th largest planetary hashrate, portion Venezuela’s 9-year highest vigor situation halted mining.
- Petro wants 3 Caribbean cities to excavation Bitcoin, though the 2026 Hashrate Index study omits Colombia.
President Petro Highlights Venezuelan and Paraguayan Potential For Energy Mining
Cryptocurrency mining, arsenic a planetary activity, has awakened the attraction of satellite leaders, who are offering their takes connected what the aboriginal of these operations looks like.
Gustavo Petro, Colombia’s arguable leader, took it to societal media to reiterate the request for greenish sources to powerfulness these energy-intensive activities.
Petro warned that “if virtual currencies trust connected fossil fuels, planetary warming and clime illness volition erupt.”
Furthermore, helium stressed that countries with untapped cleanable energy, including Venezuela and Paraguay, are attracting bitcoin mining investments. While Paraguay holds the 4th largest hashrate successful the world, down powerhouses similar the U.S., Russia, and China, Venezuela is not adjacent successful the apical 10.
Paraguay has taken vantage of its abundant hydroelectric resources successful the Iguazu dam, 1 of the largest successful the world, to connection precise competitory vigor prices ranging from $0.037 to 0.050/kWh.
Venezuela precocious banned bitcoin mining, arsenic its authorities faces an vigor crisis, with request skyrocketing to a 9-year peak. Even so, reports bespeak imaginable successful mining operations adjacent vigor procreation sources to leverage powerfulness that cannot beryllium transported owed to a deficiency of infrastructure.
“ Bitcoin mining is the method by which an individual, utilizing almighty computers, tin accumulate Bitcoin done virtual transactions. This could beryllium the lawsuit for Santa Marta, Riohacha, and Barranquilla… it represents an immense boost to the improvement of the Caribbean region,” Petro concluded.
While Hashrate Index’s The State of Bitcoin Mining successful Latin America (2026) study highlights mining developments successful Paraguay, Brazil, Bolivia, Argentina, Venezuela, and El Salvador, it does not notation Colombia. This means the state is virgin territory for bitcoin mining, and the federation inactive lacks the conditions for the manufacture to develop.
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