Bolivia BTC mining shifts to USD-backed behind-the-meter gas

Bolivia’s Bitcoin (BTC) mining rebounded sharply, with hashrate up about 2,400% since early 2026—largely driven by heavily subsidized natural gas. The later update warns the subsidy model is fragile as access to cheap fuel tightens and Bolivia could move to net gas imports in 2–5 years. To reduce currency and subsidy risks, Italian miner Alps, with local partner Qurubiqa, is reviving a dormant 127 MW gas-fired thermal plant in Cochabamba’s Cercado area. The BTC mining plan uses behind-the-meter “USD auto-consumption,” where rigs consume electricity directly at the plant and the transaction chain is denominated in US dollars rather than bolivianos. Alps secured direct power purchase agreements and regulatory exemptions to enable the setup. Current operations run 27 MW, producing 1.23 EH/s. The roadmap targets 45 MW by end-2026, with a long-term goal to scale to the full 127 MW capacity. Trading relevance: this USD-backed BTC mining template could help miners in financially unstable regions reduce exposure to subsidy withdrawal and local currency devaluation. The key risk is execution at scale—if Bolivia’s transition toward gas imports accelerates, fuel costs could rise and compress margins even with USD settlement.