Itau Unibanco, through its VC arm Itau Ventures, has made an undisclosed investment in Minter, a company that is installing mobile data centers and Bitcoin mining operations across Brazil. Minter’s approach allows us to utilize surplus energy that would otherwise be wasted.
Important points:
- Itau Ventures invested up to $10 million in Minter for a mobile data center that mines Bitcoin.
- Brazil lost $1.2 billion due to 20% energy cuts in 2025, Minter’s target market.
- CEO Stefano Sergole plans to expand Minter’s capacity to 500MW across Brazil and the United States by 2029.
Brazil’s Itau invests in Bitcoin and data center company Minter
Itaú, one of Brazil’s largest banks, is focusing on Bitcoin mining and data centers.
According to local media, the bank’s investment arm, Itau Ventures, made an undisclosed investment in Minter. The company is trying to solve one of the biggest problems in green energy installations: curtailment.
Minter combines hardware typically confined to fixed locations with mobile containers, turning these activities into initiatives that can be performed directly where renewable energy is generated.
The investment, amounting to up to $10 million, positions Minter, backed by the Itau name, as an alternative for all energy producers looking to harness energy that would otherwise be wasted or not produced.
“The Itau seal will help encourage energy producers to feel comfortable and open to the fact that flexible data centers in parks can be a portfolio strategy.” Stefano Sergole, CEO and Founder of Minter, said:
Although the company currently serves one customer, Sergole estimates that Minter could reach 40MW of operational capacity by the end of this year, and that number could reach 500MW by 2029.
With Itau’s support, Minter aims to expand in Brazil and the United States In 2025, Brazil will cut its solar and wind energy production by 20%, resulting in a loss of $1.2 billion. In the United States, Amperon estimated that cuts would reach 20 million MWh in 2024 and declared that the phenomenon was occurring “explosively.”
Therefore, Minter, a mobile service provider of data centers and Bitcoin mining hardware, faces a multi-billion dollar addressable market as it seeks to turn this untapped energy into valuable products like Bitcoin.
“With our flexible model, it is more profitable to enter Bitcoin mining.” Mr. Selgor emphasized the relevance of cryptocurrencies and Bitcoin to Minter’s business model.
