Itau Unibanco, by way of its VC arm Itau Ventures, has made an undisclosed funding in Minter, an organization that installs cell knowledge facilities and bitcoin mining operations throughout Brazil. Minter’s strategy permits it to benefit from surplus vitality that might in any other case be wasted.
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 keeping 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 hard and fast location and combines it with cell containers, turning these actions into initiatives that may be executed immediately the place renewables are generated.
The funding, reaching as much as $10 million, positions Minter instead for all vitality producers searching for to leverage vitality that might be wasted or not produced, backed by Itau’s title.
“The Itaú seal helps encourage vitality mills to really feel snug opening their minds to the truth that a versatile knowledge heart inside the parks is usually a portfolio technique,” stated Stefano Sergole, CEO and founding father of Minter.
Whereas the corporate is serving one buyer in the mean time, 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 heart and bitcoin mining {hardware}, face an addressable market of billions of {dollars}, aiming to show this unused vitality 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.
