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Petro Warns Fossil-Fuel BTC Mining Risks Climate Collapse, Urges Green Shift Near $80.7K

Colombian President Gustavo Petro on May 10 warned that fossil-fueled Bitcoin mining risks 'climate collapse,' doubling down on his green energy push amid BTCUSD at $80,747. The initiative began May 6 with proposals for renewable-powered mining hubs in Barranquilla, Santa Marta, and Riohacha, leveraging Colombia's 75% renewable electricity mix and Wayúu co-ownership, citing Paraguay's 4.3% global hashrate at $0.037–$0.05/kWh. Coverage persisted May 7 near $81,503, but hurdles like $0.203/kWh rates (needing <$0.05 for viability, ~$155K/BTC electricity cost), Petro's August term end, and May 31 elections temper progress as US miners eye AI.

Category

Bitcoin

Sentiment

Mixed

Event

Policy statement

Reading time

1 min