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Brazil’s largest bank intends to invest in Bitcoin mining
Itaú Unibanco, through its venture arm Itaú Ventures, made an undisclosed investment in Minter, a company focused on deploying mobile data centers and organizing Bitcoin mining operations across Brazil. Minter’s approach allows the company to utilize excess energy that would otherwise go to waste.
Key takeaways:
- Itaú Ventures invested up to $10 million in Minter to build mobile data centers for Bitcoin mining.
- In 2025, Brazil lost $1.2 billion due to a 20% reduction in energy supply — the market Minter is targeting.
- CEO Stefano Sergole plans to scale Minter’s capacity to 500 MW in Brazil and the United States by 2029.
Brazil’s Itaú invests in Bitcoin mining and data center company Minter
Itaú, one of the largest banks in Brazil, has turned its attention to Bitcoin mining and data centers.
According to local media, Itaú Ventures, the bank’s investment division, invested an undisclosed amount in Minter. The company aims to solve one of the most serious problems in renewable energy facilities: capacity constraints.
Minter takes equipment that is typically tied to a fixed location and combines it with mobile containers, turning these processes into initiatives that can be deployed directly where renewable energy is generated.
The investment, reaching up to $10 million, positions Minter as an alternative for energy producers seeking to utilize energy that would otherwise be wasted or not produced, backed by the Itaú brand.
“The Itaú brand helps energy producers confidently accept that a flexible data center located at energy parks can become part of their portfolio strategy,” said Stefano Sergole, CEO and founder of Minter.
Although the company currently serves one client, Sergole estimates that Minter’s capacity could reach 40 MW by the end of this year and grow to 500 MW by 2029.
With Itaú’s backing, Minter is targeting expansion in Brazil and the United States. In 2025, Brazil reduced solar and wind energy production by 20%, incurring losses of $1.2 billion. In the United States, Amperon estimated that curtailment reached 20 million MWh in 2024 and stated that the phenomenon is “gaining momentum.”
Thus, Minter, as a provider of mobile data center services and Bitcoin mining equipment, faces a potential multi-billion-dollar market as it seeks to convert this unused energy into valuable products such as Bitcoin.
“For our flexible model, it was more advantageous to position ourselves in the Bitcoin mining sector,” Sergole said, emphasizing the relevance of cryptocurrencies and Bitcoin to Minter’s business model.
See also: "Bitcoin Network Eases as Difficulty Slides 2.43% and Hashprice Rises 13.65%"
