Colombian president says Bitcoin mining could transform country's Caribbean coast

The Colombian president pointed to the impact Bitcoin mining has had in Paraguay, which is now the fourth-largest Bitcoin mining country by hashrate.

Colombia's President Gustavo Petro said the nation’s Caribbean coast has the potential to become a Bitcoin mining hub, leveraging its surplus renewable energy to attract foreign investment and spur economic development.

In a post on X on Tuesday, Petro said the Caribbean cities of Barranquilla, Santa Marta and Riohacha could host Bitcoin (BTC) mining facilities and tap the country’s clean energy sources, following a path similar to those of Venezuela and Paraguay in recent years.

“It’s an immense boost to the development of the Caribbean,” Petro said, proposing that the Wayúu community — Colombia’s largest Indigenous community, which mainly resides on the Caribbean coast — could be co-owners of the project.

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