Clean energy moves to the center of Colombia’s mining debate
Colombia is once again putting clean-energy-powered Bitcoin mining at the center of policy discussions. President Gustavo Petro argued that producing virtual currencies with fossil fuels worsens global warming and deepens the climate crisis, while countries with abundant renewable electricity are increasingly attracting mining capital. In that context, he sees Colombia’s Caribbean region—especially wind-rich La Guajira—as a possible hub for future development.
Petro has advocated mining projects tied to renewable sources and has also backed cooperative structures that would allow the country’s Wayú indigenous communities to participate in both power generation and mining activity. He has framed that approach as both an economic and social innovation, linking local inclusion with new digital industry opportunities.
Paraguay offers a regional model
Paraguay has emerged as a major reference point in Latin America’s mining sector. According to Hashrate Index’s 2026 report, the country’s total mining capacity reached 43 EH/s, equal to about 4.3% of global output, making it the world’s fourth-largest mining location behind the United States, Russia, and China. Its rise has been driven largely by abundant hydroelectric power and some of the world’s lowest electricity costs, estimated at $0.037 to $0.050 per kilowatt-hour.
Companies including HIVE Digital Technologies and Alps Blockchain have already made long-term investments there. By contrast, the rest of Latin America outside Brazil accounts for only around 1% to 2% of global mining capacity. Brazil has seen activity increase after liberalizing its energy market, while Venezuela’s potential remains constrained by regulatory uncertainty and tighter oversight. Together, those examples show that energy abundance alone does not guarantee sustainable mining growth.
Advantages are clear, but execution remains the challenge
Petro first floated the idea of renewable-powered Bitcoin mining in Colombia back in 2021 while serving as a senator, proposing that the country use Pacific waterfalls and La Guajira’s wind resources for mining projects. He later carried that vision into his 2022 presidential campaign. Now in office, he appears to be pushing the conversation from theory toward implementation.
Colombia does have structural energy strengths. Roughly 75% of the country’s electricity already comes from hydropower, while a significant share of wind capacity along the Caribbean coast remains underutilized. La Guajira in particular is widely seen as one of the strongest wind corridors in the region. Even so, analysts caution that cheap or clean energy by itself is not enough. Legal certainty, stronger grid infrastructure, and a stable investment climate will be critical if Colombia wants to turn energy potential into actual hashrate and long-term mining capital.
Argentina offers a cautionary example. The Hashrate Index report said the country’s mining share fell 42% in 2024, mainly because of economic instability and policy shifts. For Colombia, that means the next stage will depend not only on political support for mining, but also on whether it can provide a predictable environment for investors and operators.