Italian company Alps Blockchain, in partnership with local firm Qurubiqa, has launched a bitcoin mining project at an unused gas-fired power plant in the Cochabamba department of Bolivia.
The plant has a capacity of 127 MW. Currently, it consumes about 27 MW, providing a hash rate of 1.23 EH/s. By the end of 2026, the partners aim to increase consumption to 45 MW, eventually fully utilizing the plant's infrastructure.
The project operates on a behind-the-meter model: the equipment is located next to the power plant and consumes energy without feeding into the general grid. Transactions are denominated in US dollars.
This financial model was chosen due to Bolivia's prolonged currency crisis and liquidity shortages. Previously, the government allowed state-owned oil and gas giant YPFB to use cryptocurrencies for energy imports.
The volume of virtual asset transactions in the first half of 2025 surged over 530% year-on-year, rising from $46.5 million to $294 million. This increase in activity followed the lifting of the official ban on cryptocurrency use in June 2024.
Alps Blockchain includes the site in Cochabamba among its operational facilities, alongside projects in Oman, the USA, Ecuador, and Italy. The company's total managed capacity is 242 MW.
In November 2025, Bolivia's Minister of Economy, José Gabriel Espinoza, announced that the country would integrate cryptocurrencies and stablecoins into its national financial system for modernization.