Montenegro’s Prime Minister Milojko Spajić held a meeting on December 14th to discuss harnessing the country’s significant hydroelectric resources for Bitcoin">Bitcoin mining. Attendees included Bitcoin technology company JAN3, Serbia’s Prince Filip Karađorđević, and other officials.
JAN3 promotes expanding Bitcoin access, including via Bitcoin hydro bonds that fund mining operations through renewable hydropower. Montenegro boasts major hydro capacity, estimated between 5.6-6.1 TWh annually, with under 20% currently utilized.
The proposed hydro bonds would allow Montenegro to tap its natural hydro resources to mine Bitcoin sustainably. The concept mirrors El Salvador’s volcano bonds funding geothermal Bitcoin mining set to launch in 2024.
The consultation covered additional topics like crypto regulation frameworks and the central bank potentially holding Bitcoin. JAN3 noted Montenegro’s young leadership and openness to new economic avenues make it well-positioned to embrace Bitcoin’s possibilities.
With renewable energy-based Bitcoin bonds gaining traction as sustainable investments, Montenegro’s exploration of hydro-powered mining and bonds could position it at the forefront of renewable crypto asset production. The nation signals it is open for business in this burgeoning industry.
