Petro Says Colombia’s Bitcoin Mining Must Be Fossil-Free, Cites Climate Risk and Caribbean Sites

Colombia President Gustavo Petro says Bitcoin mining should be ecological and warns that relying on fossil fuels could trigger “global warming and climate collapse.” He argues clean power can attract investment, citing Paraguay’s largely hydropower-backed low electricity cost (about $0.037–0.050/kWh) and its reported position near the top of global hashrate. Petro also points to Venezuela’s recent Bitcoin mining ban after an energy crisis, while suggesting Colombia could still mine near power generation sites where electricity cannot be easily transported due to infrastructure limits. He proposes potential mining locations in Colombia’s Caribbean cities: Santa Marta, Riohacha, and Barranquilla. The article references Hashrate Index’s 2026 Latin America mining report, which highlights development in countries such as Paraguay, Brazil, Bolivia, Argentina, Venezuela, and El Salvador, but does not mention Colombia—framing it as “virgin territory” that lacks conditions to scale now. For crypto traders, the key takeaway is a policy-and-climate narrative overlay on Bitcoin mining economics: if regulators or political messaging push fossil-fuel usage out, perceived operating costs and long-term network-capacity expectations could shift, affecting BTC sentiment and risk pricing.