"Crypto mining companies are actively negotiating contracts with Brazilian electricity providers, such as Renova Energia, that would benefit from the South American country's surplus renewable power without burdening the grid during peak times. Following crypto heavyweight Tether, which announced in July an investment in the South American country, there are at least six negotiations for small and medium-sized enterprises, as well as one for a larger project of up to 400 megawatts (MW), people from six different companies told Reuters."
"Mining machines that solve complex mathematical problems to back crypto transactions have overloaded grids in multiple countries. However, in Brazil, where crypto mining hardly exists today, they could help address a chronic clean electricity oversupply problem, which has cost energy companies almost $1 billion in the last two years, according to wind and solar industry groups ABEEolica and Absolar. Tether, the world's largest digital assets company, said it is leveraging its recent acquisition of Adecoagro to tap its renewable energy."
Crypto mining firms are negotiating contracts with Brazilian power suppliers to consume surplus renewable energy while avoiding grid strain during peaks. Tether has invested and other companies are in talks for small, medium, and at least one large project up to 400 MW. Mining operations can scale rapidly to match energy availability, offering a flexible demand source for excess wind and solar output. Brazil faces chronic clean electricity oversupply that cost energy firms nearly $1 billion over two years. Renewable suppliers like Renova are planning major mining-linked projects, including a $200 million, 100-MW wind-powered data center venture.
Read at Fast Company
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