The feasibility of its reliance on both geothermal energy and Bitcoin have been the subject of criticism, alongside concerns regarding delays in the project's financing and construction.

[2] The initiative is modelled after special economic zones (SEZ), and proponents of the plan cite Singapore, Dubai, and Shenzhen as successful examples.

Past crypto utopia projects, such as Akon City, Cryptoland, and MS Satoshi, also failed to complete.

[3] The planned city would be funded by a US$1 billion Bitcoin bond issued by state-owned power company LaGeo.

[4] Also known as "Volcano bonds", half of the income from the sales would fund the construction of Bitcoin City and the mining of cryptocurrencies.