Bitcoin mining is drawing renewed attention in Colombia after President Gustavo Petro highlighted the country’s renewable energy potential as a possible driver for mining investment.
Petro pointed to Paraguay and Venezuela as examples of Latin American nations using surplus clean energy to attract Bitcoin miners. He said Colombia’s Caribbean coast could become another regional hub due to its untapped wind and hydroelectric resources.
The president shared the remarks on X while discussing how renewable-powered mining could support economic activity without increasing fossil fuel dependence. Petro named Santa Marta, Barranquilla, and Riohacha as possible locations for future operations. He also proposed models where indigenous Wayú communities could participate as stakeholders in mining and energy projects.
Paraguay’s Renewable Energy Model Draws Regional Interest
Paraguay has emerged as one of the world’s leading Bitcoin mining destinations because of its low-cost, renewable electricity. According to the 2026 State of Bitcoin Mining in Latin America report by Hashrate Index, the country controls around 43 EH/s, representing about 4.3% of global Bitcoin hashrate. The growth has been driven largely by energy generated from the Itaipú Dam, which produces more electricity than Paraguay consumes domestically.
Industrial electricity prices in Paraguay range between $0.037 and $0.050 per kilowatt-hour. That pricing structure has attracted institutional mining operators, including HIVE Digital Technologies and Alps Blockchain. Brazil has also expanded its mining sector after electricity market reforms allowed direct negotiations between miners and power producers. Venezuela, despite having hydroelectric and natural gas resources, continues to face regulatory uncertainty that has slowed institutional participation.
Colombia Highlights Wind and Hydroelectric Potential
Petro has discussed renewable-powered Bitcoin mining before, including during his time as a senator in 2021 and throughout the 2022 presidential campaign. Earlier proposals focused on using Pacific coast waterfalls and wind energy from La Guajira to support mining operations while promoting alternative economic opportunities. His latest comments shift the focus toward regional competition with neighboring countries already attracting mining investment.
Colombia’s energy matrix is already heavily dependent on hydroelectric power, which accounts for roughly 75% of electricity generation. La Guajira remains one of the region’s strongest wind corridors, although much of that capacity is still undeveloped. Analysts noted that Colombia possesses the natural resources needed for mining expansion, but long-term growth will depend on investor confidence, infrastructure development, and clear regulations for digital asset operations.
