Alps Blockchain and Qurubiqa have launched a bitcoin mining project at a gas-fired power plant in Bolivia, aiming to utilize its full capacity by 2026.
Alps Blockchain, an Italian firm, has teamed up with local company Qurubiqa to kick off a bitcoin mining operation at a dormant gas-fired power plant in Bolivia's Cochabamba region.
The power plant, which has a capacity of 127 MW, is currently utilizing around 27 MW, resulting in a hash rate of 1.23 EH/s. The partners plan to ramp up energy consumption to 45 MW by the end of 2026, aiming to fully leverage the plant's capabilities.
This initiative employs a behind-the-meter model, meaning that the mining equipment is situated close to the power plant and draws energy directly without connecting to the broader electrical grid. All transactions are conducted in US dollars.
This financial approach was selected in light of Bolivia's ongoing currency challenges and liquidity issues. Notably, the government had previously permitted YPFB, the state-owned oil and gas company, to engage in cryptocurrency transactions for energy imports.
In the first half of 2025, the volume of virtual asset transactions skyrocketed by over 530% year-on-year, climbing from $46.5 million to $294 million, following the lifting of a cryptocurrency ban in June 2024.
Alps Blockchain operates several facilities globally, including locations in Oman, the USA, Ecuador, and Italy, managing a total capacity of 242 MW. Furthermore, in November 2025, Bolivia's Minister of Economy, José Gabriel Espinoza, indicated plans to incorporate cryptocurrencies and stablecoins into the national financial framework for modernization purposes.
