In reflecting on my time as CEO of Tonga Cable Ltd from 2018 to 2020, I am reminded of Robert Frost’s poem about two diverging paths. During my tenure, we faced critical decisions, although at the time, few recognized their importance.
Our journey began with disappointment after substantial investments in data center operations and cloud services — a logical progression for a company managing the country’s submarine cable system. Although promising, this initiative came to an abrupt halt due to concerns from a shareholder regarding overlap with retail internet capacity services. This left us with valuable infrastructure but also with a pressing need to rethink its use.
Challenges often spur innovation, and as I assessed our resources—three active cable landing stations equipped with reliable power, standby generators, and substantial underutilized capacity—I began to consider an alternate path: Bitcoin mining. This opportunity aligned seamlessly with our strengths: dependable energy, secure facilities with built-in cooling mechanisms, and immediate access to high-speed internet, along with a skilled technical team.
The numbers were compelling. Back in 2018, Bitcoin’s price ranged between $3,200 and $17,000. With an initial setup of just 100 ASIC miners, we could have mined approximately 43.8 BTC per year, potentially generating about $273,790 in revenue, after factoring in power and pool fees. Now, with Bitcoin prices nearing $96,916.31 as we approach 2025, the same setup would yield significantly higher returns, although exact figures would rely on various factors such as electricity costs and network difficulty.
I often think about forward-thinking nations like El Salvador and Bhutan, which have ventured boldly into cryptocurrency. Tonga, given its strategic position in the Pacific and robust infrastructure, could have similarly positioned itself as a leader in blockchain innovation, attracting tech investment and expertise, and paving a new economic future.
Nevertheless, I recognized that proposing such a venture to our board would be akin to asking them to believe in flying saucers. The conservative mindset of our governance, paired with the volatile nature of cryptocurrency, made the idea seem far-fetched. Timing plays a crucial role in leadership, and though I felt I was merely ahead of my time, the opportunity ultimately slipped away.
As I observe the rising acceptance of cryptocurrencies and the strides made by nations and corporations, I can’t help but contemplate the paths left unexplored. The infrastructure we possessed—the power systems, cooling capabilities, and internet connectivity—was like a hidden key to economic transformation.
These reflections are not driven by regret, but rather by the understanding that innovation begins as an audacious dream. As leaders, we are often tasked with recognizing the intersection of our current realities and future possibilities. While not every opportunity we envision will come to fruition, that doesn’t diminish their significance.
By sharing this narrative, I hope to inspire others to view their resources with new perspective, uncovering extraordinary potential in what may seem ordinary.
This account showcases how sometimes missed opportunities can lead to greater reflections on innovation and leadership, encouraging a proactive approach to harnessing one’s resources for future success.
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