Key Takeaways:
Itau Ventures invested as much as $10M in Minter for cell knowledge facilities that mine bitcoin. Brazil misplaced $1.2B to twenty% vitality 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 Information Heart Firm Minter
Itau, one of many largest banks in Brazil, has turned its gaze on bitcoin mining and knowledge facilities.
In accordance with native media, Itau Ventures, the financial institution’s funding arm, has made an undisclosed funding in Minter. This firm seeks to resolve one of many largest issues in inexperienced vitality installations: curtailment.
Minter takes {hardware} that’s usually confined to a set 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 as a substitute for all vitality producers looking for to leverage vitality that will be wasted or not produced, backed by Itau’s identify.
“The Itaú seal helps encourage vitality mills to really feel comfy opening their minds to the truth that a versatile knowledge middle throughout the parks generally is a portfolio technique,” mentioned Stefano Sergole, CEO and founding father of Minter.
Whereas the corporate is serving one buyer for the time being, Sergole estimates that by the tip of this yr, Minter may attain 40MW capability in its operations, with the quantity climbing to 500MW by 2029.
With Itau’s backing, Minter goals to broaden in Brazil and the U.S. In 2025, Brazil curtailed 20% of its photo voltaic and wind vitality 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 middle and bitcoin mining {hardware}, face an addressable market of billions of {dollars}, aiming to show this unused vitality into precious merchandise, like bitcoin.
“For our versatile mannequin, it has been extra worthwhile to place ourselves in bitcoin mining,” mentioned Sergole, highlighting the relevance of crypto and bitcoin for Minter’s enterprise mannequin.
