Colombia’s President Gustavo Petro has put forward a plan to turn the country’s Caribbean coast into a major Bitcoin mining destination by harnessing untapped clean energy. In a post on X, Petro argued that cities like Barranquilla, Santa Marta, and Riohacha could replicate the mining booms seen in Venezuela and Paraguay, where cheap surplus power has attracted institutional operators.
The president stressed that any mining activity must rely on renewables, warning that fossil‑fuel mining would accelerate climate change. He pointed specifically to the La Guajira region, home to the Wayúu Indigenous community and some of South America’s strongest wind resources. Petro proposed that the Wayúu could become co‑owners in future energy and mining projects, fostering local economic participation.
Petro’s message directly referenced the Paraguay model, where the Itaipú Dam produces far more hydroelectricity than the country consumes. Industrial power there costs between $0.037 and $0.050 per kWh, helping Paraguay command 43 EH/s, or 4.3% of global hashrate in Q2 2026, according to Hashrate Index data. Petro contrasted this with Colombia’s own 75% renewable grid and untapped wind corridors, framing mining as a clean economic engine rather than a climate threat.
Despite the potential, the proposal faces steep hurdles. Petro’s term ends in August, and Colombia holds a presidential election on May 31. He cannot run again, and no front‑runner has outlined a stance on Bitcoin mining. Specialists note that legal certainty and the ability to attract private capital are missing. The cautionary case of Argentina, where hashrate fell 42% year‑over‑year due to macroeconomic instability, shows that abundant energy alone is not enough. No mining partner or launch date has been confirmed, leaving the idea purely aspirational for now.
