Crypto mining companies are actively negotiating contracts with Brazilian electricity providers, such as Renova Energia, that would benefit from the South American country’s surplus renewable power without burdening the grid during peak times.

Following crypto heavyweight Tether, which announced in July an investment in the South American country, there are at least six negotiations for small and medium-sized enterprises, as well as one for a larger project of up to 400 megawatts (MW), people from six different companies told Reuters.

Mining machines that solve complex mathematical problems to back crypto transactions have overloaded grids in multiple countries. However, in Brazil, where crypto mining hardly exists today, they could help address a chronic clean electricity oversupply pro

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