The adequacy of Guri could lead Venezuela to become a powerhouse for Bitcoin mining.
The installed capacity for electricity generation in Venezuela ranges between 30 and 36 GW, while the historical maximum demand is around 13 to 17 GW.
Once the maintenance and rehabilitation work on hydroelectric plants like El Guri and thermal power facilities is completed, it is likely that a structural energy surplus will emerge that will need to be absorbed efficiently.
In this context, Bitcoin mining has been pointed out as a possible "buyer of last resort" for that surplus. Its main characteristic is operational flexibility: data centers can quickly adjust their consumption, connecting when there is energy availability and disconnecting within seconds if residential or industrial demand increases.
Alessandro Cecere, business manager at Luxor Mining, analyzed this scenario in detail. In a recent interview, he explained that Venezuela already has mining operations that represent between 0.5% and possibly up to 1% of the global hash rate, consuming around 400 MW to 1 GW.
According to Cecere, "miners can act as regulators of the electrical grid, as they can turn off their machines in case of a demand increase, thus avoiding overloads."
Bitcoin mining with flare gas;
A highlighted aspect is the use of flared gas in the oil industry. It is estimated that this wasted resource is equivalent to a power of about 2 GW.
Capturing it to generate electricity dedicated to mining could transform an environmental and energy waste into a source of economic value.
"In terms of flared gas, we are talking about more than 2,000 MW, that is, 2 GW. If that gas is captured and used to generate electricity... for Bitcoin mining," Cecere said.
The proposal contemplates that miners install themselves near the generation sources —either next to the dam or in oil fields— to reduce transmission losses and minimize costs.
In this way, they would not compete directly with domestic consumption, but rather create additional demand where there is currently surplus or waste.
Cecere also mentioned that mining can facilitate the reactivation of thermal power plants through private investment. "Mining solves the problem because it creates the demand that makes the project financially viable. We can talk about a 1 GW plant because we are going to mine with 800 MW and give the remaining 200 MW to the population or the state that needs it," he indicated.
Experts indicate that this model has already been observed in other regions with energy surpluses or flare gas, where mining acts as a buffer that stabilizes the grid and generates income in foreign currency without requiring permanent state subsidies.
In Venezuela, the current low cost of energy (around 1 cent per kWh in some cases) could make the activity attractive, even if prices are gradually adjusted.
However, implementation faces technical and regulatory challenges. The rehabilitation of infrastructure would take between one and two years, and it would be necessary to define a clear legal framework for large-scale mining operations. However, there are already financing plans to initiate investments.
Additionally, factors such as the warm and humid climate require efficient cooling solutions, such as equipment with water cooling or adjustments in machine software.
