Brazil’s Energy Glut Is Luring Crypto Miners—Here’s Why That Could Be A Win-Win
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Brazil’s booming renewable energy sector has created an unexpected problem: too much clean electricity and nowhere to put it. Now, cryptocurrency miners are swooping in to tap that surplus power, potentially solving a billion-dollar headache for energy providers while fueling their own operations.
Crypto mining companies are in active contract negotiations with Brazilian electricity providers like Renova Energia, capitalizing on the country’s renewable power surplus without adding strain to the grid during peak demand, according to Reuters.
Following Tether‘s July announcement of an investment in Brazil, at least six…
