Colombia Aims to Harness Clean Energy for Bitcoin Mining

Colombia's Caribbean coast is being pitched as an ideal location for a bitcoin mining hub powered by surplus clean energy. The initiative, proposed by President Gustavo Petro, aims to drive regional economic development and diversify foreign-currency inflows.

Petro has identified Barranquilla, Santa Marta, and Riohacha as potential sites for the project, citing the experiences of Venezuela and Paraguay as a blueprint for success. Both countries have leveraged their low-cost hydroelectric and renewable power to attract significant crypto mining investment.

Colombia's clean energy surplus is substantial, with around 75% of its electricity generated from renewable sources. The country has largely untapped wind and solar capacity along its Caribbean coast, which could be harnessed to support the bitcoin mining operation.