Clean Energy Surplus Lures Crypto Mining Firms to Brazil
Brazil is becoming a new hotspot for cryptocurrency mining, thanks to a growing surplus of clean energy. Over the past years, the country has invested heavily in wind and solar power. Government incentives encouraged rapid growth in renewable energy projects, but the expansion of transmission infrastructure has not kept pace. As a result, some energy plants now waste up to 70% of the electricity they generate. This surplus has caught the attention of crypto mining companies looking for cheap and abundant power. Cryptocurrency mining requires large amounts of electricity to operate machines that solve complex mathematical problems. In many countries,…
