Recently, Itau Unibanco, Brazil’s largest bank, through its venture capital arm Itau Ventures, invested up to $10 million in Minter, a company specializing in Bitcoin data center of mining and mobile, officially entering the Bitcoin mining and green hash rate sector.

Minter’s core model is very practical: it packs Bitcoin mining and data center hardware into mobile containers and deploys them directly at renewable energy power generation sites such as solar and wind power plants. This specifically utilizes idle electricity that cannot be used or transmitted to the grid, thereby reducing energy waste and lowering mining costs. This strategy precisely addresses Brazil’s energy pain point.

In 2025, Brazil will reduce its green electricity generation by approximately 20% due to restrictions on wind and solar power, resulting in a direct economic loss of $1.2 billion. Minter’s mobile hash rate model can effectively utilize this wasted clean energy.

Leveraging Itau Bank’s brand endorsement, Minter plans rapid expansion: it expects to reach an operating capacity of 40 megawatts by the end of this year and climb to 500 megawatts by 2029, simultaneously covering both the Brazilian and US markets.

As a Brazilian financial giant, Itau Bank’s entry into the market not only represents its recognition of the cryptocurrency mining industry but also promotes the transformation of Bitcoin mining towards green, mobile, and compliant practices, and opens up new opportunities for the integration of clean energy and digital industries in Latin America.