Colombian President Proposes Turning Caribbean Coast Into Bitcoin Mining Hub

About 75% of Colombia’s electricity comes from renewable sources, more than twice the global average, according to an April 2024 World Bank report. Large amounts of wind and solar power along the Caribbean coast remain commercially underutilized. President Gustavo Petro wants Bitcoin mining to absorb surplus electricity and attract foreign investment, drawing on Paraguay’s model as the fourth-largest contributor to global computing power, with a 4.3% share.

In a May 5, 2026 post on X, Petro proposed building mining facilities in Barranquilla, Santa Marta and Riohacha, with the Indigenous Wayúu community as co-owners. The government has yet to disclose the investment amount, operators, electricity-pricing agreements or construction timetable. Colombia will hold a presidential election on May 31, while Petro’s term ends in August, leaving implementation dependent on the next government.