Gustavo Petro Warns Fossil-Fueled Crypto Mining Will Trigger 'Climate Collapse'

"Colombian President Gustavo Petro stressed that the future of bitcoin mining must be ecological, as countries with abundant green energy, including Paraguay and Venezuela, are attracting investments in the sector. He also warned about the consequences of using fossil fuels to power this activity."

"Petro wants 3 Caribbean cities to mine Bitcoin, though the 2026 Hashrate Index report omits Colombia. Cryptocurrency mining, as a global activity, has awakened the attention of world leaders, who are offering their takes on what the future of these operations looks like. Gustavo Petro, Colombia's controversial leader, took it to social media to reiterate the need for green sources to power these energy-intensive activities."

"Paraguay holds the 4th largest global hashrate, while Venezuela's 9-year peak energy crisis halted mining. Paraguay has taken advantage of its abundant hydroelectric resources in the Iguazu dam, one of the largest in the world, to offer very competitive energy prices ranging from $0.037 to 0.050/kWh. Venezuela recently banned bitcoin mining, as its government faces an energy crisis, with demand skyrocketing to a 9-year peak."

"Even so, reports indicate potential in mining operations near energy generation sources to leverage power that cannot be transported due to a lack of infrastructure."

Colombian President Gustavo Petro said the future of Bitcoin mining must be ecological and powered by green energy. He warned that relying on fossil fuels for mining could trigger global warming and climate collapse. He pointed to countries with abundant clean energy, including Paraguay and Venezuela, as attracting investment in the sector. Paraguay has the fourth largest global hashrate and uses hydroelectric power from the Iguazu dam to offer competitive electricity prices. Venezuela is not in the top hashrate rankings and previously faced a severe energy crisis that halted mining, but potential remains for operations near power generation sites where electricity cannot be transported due to limited infrastructure.

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