Colombian President Gustavo Petro said bitcoin mining could drive significant development in the Caribbean region, similar to what is happening in nearby South American countries.
In a Tuesday post on social media platform X, Petro pointed to Venezuela and Paraguay as countries that have managed to attract investment in local bitcoin mining industries with abundant clean energy.
"This could be the case for Santa Marta, Riohacha, and Barranquilla," Petro wrote in a translated post. "It's an immense boost to the development of the Caribbean."
Petro also said there should be discussions on the matter between himself and the Wayúu community, the ethnic group indigenous to northern Colombia, so that its people can take part in the bitcoin mining project.
Colombia has abundant renewable energy resources, primarily centered on hydropower, while recently diversifying to solar, wind, and other renewables. As of the end of 2025, Colombia had 21,286.9 megawatts of renewable energy capacity, according to data from XM, the national grid operator.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
