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Colombian President Gustavo Petro Proposes Bitcoin Mining Hub on Caribbean Coast

According to Petro’s May 6 X post, Barranquilla, Santa Marta and Riohacha could host Bitcoin mining projects modeled partly on Paraguay and Venezuela, with the plan framed as a boost for Caribbean development.

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Fact Check
The core claim is well-supported. Petro's own X post (May 5, 2026) directly confirms he proposed Bitcoin mining hubs in Barranquilla, Santa Marta, and Riohacha powered by surplus renewable energy, corroborated by The Block and crypto.news. The Paraguay 4.3% hashrate figure is confirmed by Hashrate Index (Luxor Technology's data platform) in both its Latin America and Paraguay-specific 2026 reports, with Itaipu hydropower cited as the driver. The only minor imprecision is that the claim attributes the Paraguay statistic specifically to 'Luxor Technology' as a named commentator on Petro's proposal — in reality, the 4.3% figure comes from Hashrate Index (Luxor's data brand) in standalone research reports, not as a direct response to Petro's announcement. This is a minor framing nuance, not a factual error. All key facts — the cities named, the renewable energy framing, and the Paraguay 4.3% hashrate figure — are independently verified.
Summary

Colombian President Gustavo Petro said in a May 6 X post that Barranquilla, Santa Marta and Riohacha could host Bitcoin mining facilities as part of a development plan for Colombia’s Caribbean coast. Petro cited Paraguay and Venezuela as examples of countries using renewable energy for Bitcoin mining and presented the proposal as a way to support regional development. The new remarks add Venezuela to the international comparisons Petro has used alongside Paraguay when discussing renewable-energy-powered mining in Latin America.

Terms & Concepts
  • Bitcoin mining: The process of using computing power to validate Bitcoin transactions and secure the Bitcoin network in exchange for block rewards and transaction fees.
  • Renewable energy: Energy generated from naturally replenishing sources such as hydropower, wind or solar, often used in discussions about lower-emission Bitcoin mining.