Colombian President Warns Against Fossil-Fueled Bitcoin Mining
- Gustavo Petro, Colombia’s president, warned that Bitcoin mining relying on fossil fuels could lead to global climate collapse.
- Paraguay ranks fourth globally in hashrate, benefiting from hydroelectric resources at the Iguazu dam with energy prices between $0.037 to $0.050/kWh.
- Venezuela faces a peak energy crisis and has banned Bitcoin mining due to infrastructure limitations despite potential near energy sources.
- Petro suggests Bitcoin mining in Colombian cities like Santa Marta, Riohacha, and Barranquilla could boost regional development.
- The Hashrate Index report for Latin America (2026) does not mention Colombia as a significant player in Bitcoin mining.
Colombia’s President Gustavo Petro emphasizes the need for green energy in cryptocurrency mining operations to prevent environmental damage. While Paraguay leverages its hydroelectric power for competitive pricing, Venezuela struggles with an energy crisis that limits its mining capabilities despite untapped potential.
Petro’s call for sustainable practices highlights the growing attention on environmental impacts within the crypto industry and underscores regional disparities in mining infrastructure and capability. (Source)
