Key Takeaways:
Itau Ventures invested as much as $10M in Minter for cell information facilities that mine bitcoin. Brazil misplaced $1.2B to twenty% power curtailment in 2025, a market Minter targets. CEO Stefano Sergole plans to develop Minter to 500MW capability by 2029 throughout Brazil and the U.S.
Brazil’s Itau Invests In Bitcoin and Knowledge Middle Firm Minter
Itau, one of many largest banks in Brazil, has turned its gaze on bitcoin mining and information facilities.
In response to native media, Itau Ventures, the financial institution’s funding arm, has made an undisclosed funding in Minter. This firm seeks to unravel one of many largest issues in inexperienced power installations: curtailment.
Minter takes {hardware} that’s usually confined to a hard and fast location and combines it with cell containers, turning these actions into initiatives that may be executed instantly the place renewables are generated.
The funding, reaching as much as $10 million, positions Minter in its place for all power producers searching for to leverage power that may be wasted or not produced, backed by Itau’s identify.
“The Itaú seal helps encourage power turbines to really feel comfy opening their minds to the truth that a versatile information heart throughout the parks could be a portfolio technique,” stated Stefano Sergole, CEO and founding father of Minter.
Whereas the corporate is serving one buyer in the intervening time, Sergole estimates that by the tip of this 12 months, Minter might attain 40MW capability in its operations, with the quantity climbing to 500MW by 2029.
With Itau’s backing, Minter goals to develop in Brazil and the U.S. In 2025, Brazil curtailed 20% of its photo voltaic and wind power output, with $1.2 billion in losses. Within the U.S., Amperon estimated that curtailment hit 20M MWh in 2024 and declared that the phenomenon was “exploding.”
This makes Minter, as a cell service supplier of knowledge heart and bitcoin mining {hardware}, face an addressable market of billions of {dollars}, aiming to show this unused power into worthwhile merchandise, like bitcoin.
“For our versatile mannequin, it has been extra worthwhile to place ourselves in bitcoin mining,” stated Sergole, highlighting the relevance of crypto and bitcoin for Minter’s enterprise mannequin.
