Crypto mining companies are in talks with Brazilian electricity providers like Renova Energia to utilize the country’s surplus renewable power. Tether has already invested in Brazil, with six more negotiations underway for projects ranging from small to 400 MW. Brazil’s clean electricity oversupply issue has cost nearly $1 billion, prompting interest in crypto mining to consume excess energy without straining the grid. Companies like Renova are investing in crypto mining ventures, while providers like Eletrobras are exploring ASIC mining machines for pilot projects. However, concerns remain about water usage, infrastructure, and regulations in Brazil.

Read more at Yahoo Finance: Clean energy glut draws cryptocurrency miners to Brazil