Crypto Miners is trying to use Brazil’s clean energy surplus without putting a strain on the grid.
summary
- Crypto Miners is trying to harness excess clean energy in Brazil
- Tether is one of the companies trying to harness the power of excess.
- Brazil is experiencing solar and wind power overload due to subsidies
Crypto mining may solve unique problems with renewable energy. A Reuters report on September 30th revealed that the mining company is negotiating a contract with a Brazilian utility company, seeking to take advantage of the excess supply of clean energy.
At least six crypto mining companies are currently negotiating contracts to use some of Brazil’s abundant green energy for crypto mining. Renewable energy supplier Renova, for example, is investing in a $200 million mining project in northeastern Brazil. The project will feature six data centers with wind farms.
“We aim to expand our company and enter new markets,” said Sergio Brasil, CEO of Renova. “We’ve found ourselves one step ahead of our competitors by providing all our infrastructure (for crypto mining).”
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Crypto Mining works well with green energy
Brazil has pushed renewable energy a lot. However, wind and solar energy have the disadvantage that peak production often doesn’t track demand. Meanwhile, Crypto Miners can freely expand their operations, benefiting from cheap energy. At the same time, it can be reduced when energy demand is high.
“There’s a huge amount of possibilities,” said John Blount, co-founder of Enegix, a Kazakhstan-based crypto miner. “We’ll explain in some way more about the mobile data center,” he added.
Brazil’s oversupply of green energy comes from years of government subsidies and solar power generation. However, in some regions, this has led to oversupply, with some energy facilities currently wasting 70% of the energy they generate.
read more: Crypto Rail: Green Grid Power Supply | Opinion
