As I look back on my time as CEO of Tonga Cable Ltd from 2018 to 2020, I am reminded of Robert Frost’s poem about two diverging roads in a yellow wood, highlighting the critical choices we face. We encountered a pivotal moment that, at the time, went largely unnoticed by others in our organization.

It started with disappointment after substantial investments in data center operations and cloud services—essential components for a company managing the nation’s submarine cable network. While the initiative showed early promise, obstacles arose when a shareholder’s concerns forced us to cease operations, leaving us with valuable infrastructure but no clear purpose for its future.

Challenges often breed innovation. When I assessed our assets—three operational cable landing stations with reliable power sources and the potential for under-utilized capacity—I envisioned an exciting opportunity. What if we pivoted towards Bitcoin mining? Our resources seemed ideal: dependable power, secure locations with cooling systems, high-speed internet access, and a knowledgeable team to support the operation.

The figures were compelling. In 2018, Bitcoin prices ranged from $3,200 to $17,000, and with a modest setup, we could have mined around 43.8 BTC annually, amounting to approximately $273,790 in revenue. Now, with Bitcoin’s soaring value nearing $96,916.31, that same output would yield even greater returns.

Reflecting on countries like El Salvador and Bhutan that embraced cryptocurrency, I see Tonga’s potential to lead in blockchain innovation in the Pacific, attracting technological investment and expertise. Unfortunately, proposing such a strategy to our board was daunting—our conservative governance combined with the unpredictable nature of cryptocurrency made it a non-viable option. Timing can be everything in leadership.

These reflections are not rooted in regret but in acknowledging how innovation begins as a distant dream. Opportunities often lie at the intersection of current capabilities and potential futures. Though these specific opportunities did not materialize within our timeframe, they underscore a valuable lesson: recognizing extraordinary potential in what we may view as ordinary.

Today, as I witness countries and businesses embracing the concepts we once hesitated over, I am hopeful that sharing this experience will encourage others to re-evaluate their resources. By doing so, they may uncover the hidden potential waiting to be realized.

In summary, while Tonga may have missed a strategic opportunity in the cryptocurrency space, the reflections shed light on the importance of foresight and innovation, suggesting that other entities can learn from this experience and possibly lead the way forward in the digital economy.