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Colombia Seeks to Mine Bitcoin Using Surplus Renewable Energy From Country's Coastline

Colombia Seeks to Mine Bitcoin Using Surplus Renewable Energy From Country's Coastline

The proposal comes as countries like Paraguay and Venezuela continue attracting mining investments linked to low-cost electricity.

Written by Rahul Dhingra, Edited by David Delima | Updated: 6 May 2026 18:38 IST

Colombia Seeks to Mine Bitcoin Using Surplus Renewable Energy From Country's Coastline

Photo Credit: Unsplash/Shubham Dhage

Petro says the Caribbean region could attract Bitcoin mining investment

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Highlights

Barranquilla, Santa Marta, and Riohacha are named in the proposal
Colombia generates 75 percent of its electricity from renewables
Paraguay’s mining growth cited as a regional example

Colombia's President Gustavo Petro has said that the country's coastline holds potential in transforming itself into a Bitcoin mining hub, utilising its surplus renewable energy, which attracts foreign investment and spurs economic growth. The President said in a post on X that the Caribbean cities such as Barranquilla, Santa Marta, and Riohacha could host Bitcoin (BTC) mining operations, harnessing the country's clean energy sources, following the suit of Venezuela and Paraguay in recent years. Analysts of Bitcoin mining, like Hashlabs managing partner Jaran Mellerud, have said the industry can have a sizeable economic impact on emerging countries looking to turn unused electricity into cash flow.

Using Renewable Energy for Bitcoin Mining

It also creates an opportunity for countries with cheap electricity to take a bigger share of the Bitcoin network hashrate as US commercial miners continue to migrate to AI and high-performance computing for higher-margin opportunities. The President's remarks followed a post by Luxor Technology's Alessandro Cecere stating that Paraguay's share of global Bitcoin hashrate has increased to 4.3 percent since it received access to hydroelectric energy from its Itaipu dam.

Si las monedas virtuales se basan en energía fósil estalla el calentamiento mundial y el colapso climático

Hoy los países con abundantes energías limpias encerradas como Venezuela y Paraguay, logran atraer las inversiones en minería del bitcoin. La.minería del bitcoin es el… https://t.co/KroCrG9qkD
— Gustavo Petro (@petrogustavo) May 5, 2026

After the US, Russia, and China, the South American country is now the fourth-largest Bitcoin mining country by hashrate. As per a report published by the World Bank in 2024, Colombia generates as much as 75 percent of its electricity from renewable sources, which is twice the global average.

Tapping these renewables would ease the country's concerns that Bitcoin mined using fossil fuels is contributing to global warming and a possible “climate collapse.”

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Colombia's President has always been neutral on Bitcoin and the crypto industry since he started his tenure as the president of Colombia in August 2022. He has another three months to lead the Bitcoin mining initiative before his tenure comes to an end in August. Furthermore, he won't be able to run in Colombia's forthcoming presidential election on May 31 due to constitutional limits.

Except for Colombia, Bhutan is another country that has adopted Bitcoin mining and crypto payments as its daily transaction medium. In October 2025, the country migrated its national digital identity system from Polygon to Ethereum, covering nearly 800,000 residents. This system will be the world's first national ID implementation on Ethereum, enabling citizens to access government services and authenticate themselves on a public decentralised blockchain.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Bitcoin Mining, Cryptocurrency, Crypto Adoption

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More