The cryptocurrency mining companies are actively negotiating contracts with Brazilian energy generators, such as renovating energy, to exploit the country’s renewable energy surplus without overloading the electricity grid during peak periods.
In the wake of the announcement of giant giant giant in July, there are at least six negotiations in progress for small and medium -sized projects, as well as a larger company up to 400 megawatt (MW), according to sources of six different companies heard by Reuters.
Although mining machines, which solve complex mathematical problems to validate cryptocurrency transactions, have overloading electrical networks in many countries, in Brazil – where the activity is still incipient – can help solve a chronic problem of clean energy, which has cost almost $ 1 billion in generation companies in the last two years, according to sectoral association calculations.
Tether, the largest digital resources company in the world, has declared that it will take advantage of the recent acquisition of Adcoagro to use renewable sources, such as the energy of sugar cane operations, in a Bitcoin mining project in Brazil.
Renova told Reuters that he is developing one of the first important investments in the cryptocurrency mineral sector, a project of 200 million dollars for a customer revealed in Bahia’s state. The company of about 100 megawatt consists of six data centers that will be fed by an already operational wind farm.
“We tried to expand the company and enter new markets,” said Sergio Brasil, CEO of Renova. “We realized that by providing all the infrastructures (for the mining sector of cryptocurrencies), we were a step forward compared to our competitors”.
Cryptocurrency mining companies can quickly reduce their operations based on energy availability, offering a flexible consumption base for energy surplus without overloading the network in the top hours.
Excessive energy in Brazil is the result of years of tariff incentives that have increased investments in solar and wind energy. However, the rhythm of the development of the generation has exceeded the expansion of the transmission infrastructure and some plants are giving up to 70% of the energy generated.
“There is enormous potential,” said John Blount, one of the founders of Enegix, a cryptocurrency mining company based on Kazakhstan in Reuters. “We will try to develop mobile data centers,” he added, observing that the structures would be connected directly to the plants.
Enegix is evaluating the agreements in the north -est, a region with a greater surplus of energy, including the use of solar and wind energy in Piauí.
Penguin, based in Paraguay -one of the largest cryptocurrency mineral centers in the world -also negotiated projects in Brazil, but preferred not to disseminate the details.
Chinese bitmain, one of the largest producers of mining equipment, is also exploring opportunities in the country, according to a manager who has asked for anonymity to discuss private negotiations.
Seen as “diamonds”
The installation of cryptocurrency mining farms arouses the interest of energy generators, in particular those who suffered from cutting the production of their plants.
The house of the winds, whose partner has French totality, and the renewable energy of the Atlas Gip confirmed their intentions for Reuters.
The Engie branch in Brazil and Auren Energia, the joint venture between the investments of Vorsorantim and CPP, are also evaluating projects to monetize the unused energy, according to three sources. The companies preferred not to comment.
The generators see “consumers like these as if they were diamonds,” said Raphael Gomes, a lawyer who works in various cryptocurrency projects.
Companies are evaluating several models, including the purchase of equipment to be done alone.
In Bahia, Electrobras, the largest Brazilian energy generator, is the installation of Asic mining machines, together with a micro -Holder powered by wind turbines, solar panels and batteries, as part of a pilot project.
“We want to understand how this sector works,” said Juliano Dantas, vice -president of Electrobras innovation.
The initiative can help energy companies positioning themselves working with data centers, a sector that the Brazilian government is trying to attract as part of the strategy to increase an economy based on renewable energy.
The progress of this new industry in Brazil, on the other hand, generates concerns about the use of water -a resource used in machine cooling systems -, since some of the regions with the largest energy surplus also face drought. Brazil must also deal with infrastructure problems and lacks specific regulations for cryptocurrency mining.
“We went after 400 MW – it was like a slightly difficult journey on Sisyphus,” said Bruno Vacconi, manager of Penguin. “We are still exploring Brazil, but it’s not that easy.”
Source: Terra
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