Brazil’s Clean Energy Boom Attracts Global Crypto Mining Exodus

Crypto miners are flooding into Brazil, chasing the country's massive clean energy surplus that's rewriting the mining geography map.

The Green Rush Is On

Brazil's renewable energy advantage—hydropower leading the charge—is pulling mining operations from energy-crunched regions worldwide. Miners are swapping carbon concerns for Brazil's hydro-dominated grid, where electricity costs are plummeting faster than a bear market.

Energy arbitrage at its finest—miners chasing cheap, clean power while traditional energy investors still can't tell a kilowatt from a kilocoin. They'll probably figure it out right after the next halving.

Crypto mining works well with green energy

Brazil has made a big push in renewable energy. However, wind and solar energy have the disadvantage that their peak production often does not track demand. On the other hand, crypto miners can scale their operations at will, benefiting from cheap energy. At the same time, they can scale back when energy demand is high.

“There’s tons of potential,” said John Blount, co-founder of Enegix, a crypto miner based in Kazakhstan. “We will try somehow to elaborate mobile data centers,” he added, that WOULD be plugged directly into power plants

Brazil’s oversupply of green energy comes from years of government subsidies in wind and solar power. However, in some areas, this has led to oversupply, and some energy facilities now waste 70% of the energy they generate.