Colombia Eyes Bitcoin Mining Hub, Meta Pays Creators in USDC

Key Takeaways

1. Colombian President Gustavo Petro proposed turning the Caribbean coast into a Bitcoin mining hub, citing cities like Barranquilla and Santa Marta.
2. Meta has started offering USDC payouts to creators in Colombia and the Philippines via Solana and Polygon blockchains.
3. These developments highlight growing crypto adoption in Latin America, with stablecoins and mining driving innovation.

Colombia is making headlines in the crypto world with two major developments: a government push for Bitcoin mining and Meta's expansion of stablecoin payouts to creators. On Tuesday, Colombian President Gustavo Petro announced that the country's Caribbean coast has the potential to become a Bitcoin (BTC) mining hub. In a post on X, Petro named Barranquilla, Santa Marta, and Riohacha as potential sites for mining operations. The remarks came in response to a post from Luxor Technology's Alessandro Cecere, who highlighted Paraguay's rise as a mining powerhouse thanks to hydroelectric energy from the Itaipu dam. Paraguay now accounts for 4.3% of global Bitcoin hash rate, ranking fourth behind the US, Russia, and China. Source

Separately, Meta has begun offering USDC payouts to creators in Colombia and the Philippines via the Solana and Polygon blockchains. The initiative targets a global creator economy estimated at 200 million contributors. According to Bitwise CIO Matt Hougan, the pilots are small in dollar terms but signal a growing trend of stablecoin adoption for cross-border payments. Source

These events underscore Colombia's increasing engagement with cryptocurrency, both at the governmental and grassroots levels. The mining proposal could leverage the country's renewable energy resources, while Meta's USDC payouts offer creators a fast, low-cost alternative to traditional banking. As stablecoin supply is expected to hit $4 trillion by 2030, according to Hougan, such initiatives could accelerate financial inclusion in emerging markets.