- According to Gustavo Petro, renewable energy sources on Colombia’s Caribbean coast could soon attract investment in Bitcoin mining.
- Paraguay has the fourth-largest hashrate in the world with 43 EH/s, almost entirely due to the Itaipu hydroelectric dam.
Colombian President Gustavo Petro has said the country’s Caribbean coast could become a hub for Bitcoin mining, as abundant renewable energy could help attract foreign investment and spur economic development.
В post On social media, X Petro wrote that the Caribbean cities of Barranquilla, Santa Marta, and Riohacha could host Bitcoin mining equipment and utilize the country’s clean energy sources, following the example of Venezuela and Paraguay in recent years.
This is a huge boost for the development of the Caribbean region, wrote the president.
Petro also proposed making the Wayuu community, Colombia’s largest indigenous group, living primarily on the Caribbean coast, co-owners of the project.
The head of state’s statement was made in response to a post by Alessandro Cecere of Luxor Technology, which saidParaguay’s share of the global Bitcoin hashrate has grown to 4,3% after the country began harnessing hydroelectric power from the Itaipu Dam. The small, landlocked South American country now ranks fourth in the world in terms of hashrate for Bitcoin, behind the United States, Russia, and China. According to Hashrate Index.
Colombia has a chance to overtake Paraguay in mining, as the country produces up to 75% of its electricity is being produced from renewable sources. This figure is more than twice the global average.
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