Key Takeaways
Colombia’s Gustavo Petro warned that fossil-fueled Bitcoin mining dangers international local weather collapse.Paraguay holds the 4th largest international hashrate, whereas Venezuela’s 9-year peak power disaster halted mining.Petro desires 3 Caribbean cities to mine Bitcoin, although the 2026 Hashrate Index report omits Colombia.
President Petro Highlights Venezuelan and Paraguayan Potential For Vitality Mining
Cryptocurrency mining, as a worldwide exercise, has woke up the eye of world leaders, who’re providing their takes on what the way forward for these operations appears to be like like.
Gustavo Petro, Colombia’s controversial chief, took it to social media to reiterate the necessity for inexperienced sources to energy these energy-intensive actions.
Petro warned that “if digital currencies depend on fossil fuels, international warming and local weather collapse will erupt.”
Moreover, he harassed that international locations with untapped clear power, together with Venezuela and Paraguay, are attracting bitcoin mining investments. Whereas Paraguay holds the fourth largest hashrate on the earth, behind powerhouses just like the U.S., Russia, and China, Venezuela shouldn’t be even within the prime 10.
Paraguay has taken benefit of its ample hydroelectric assets within the Iguazu dam, one of many largest on the earth, to supply very aggressive power costs starting from $0.037 to 0.050/kWh.
Venezuela just lately banned bitcoin mining, as its authorities faces an power disaster, with demand skyrocketing to a 9-year peak. Even so, stories point out potential in mining operations close to power technology sources to leverage energy that can not be transported on account of an absence of infrastructure.
“ Bitcoin mining is the strategy by which a person, utilizing highly effective computer systems, can accumulate Bitcoin via digital transactions. This could possibly be the case for Santa Marta, Riohacha, and Barranquilla… it represents an immense increase to the event of the Caribbean area,” Petro concluded.
Whereas Hashrate Index’s The State of Bitcoin Mining in Latin America (2026) report highlights mining developments in Paraguay, Brazil, Bolivia, Argentina, Venezuela, and El Salvador, it doesn’t point out Colombia. This implies the nation is virgin territory for bitcoin mining, and the nation nonetheless lacks the circumstances for the trade to develop.
