Brazil’s Thopen is looking into Bitcoin mining as a way to profit from excess renewable energy. According to CEO Gustavo Ribeiro, discussions are underway to diversify the company’s operations, which may include new solutions like data centers and Bitcoin mining.
Gustavo Ribeiro, CEO of Thopen and majority owner of Pontal Energy, mentioned in an interview that they are responding to Brazil’s energy surplus by exploring Bitcoin mining as a potential avenue for reducing oversupply problems. Thopen’s initiative aligns with a broader trend, as several crypto mining businesses are negotiating with local energy providers to better leverage Brazil’s abundant renewable resources.
In August, reports indicated that the Brazilian government aims to solicit bids for energy supply from hydroelectric and fossil fuel power plants to stabilize the electric grid in 2026, further indicating that the renewable energy sector is facing challenges. Addressing curtailment, Ribeiro sees Bitcoin mining as an innovative solution to the financial hurdles faced by solar power generators.
In a similar context, Union Jack Oil, a UK-based firm, announced plans to convert natural gas into electricity to power Bitcoin mining, showcasing a growing interest in crypto mining across energy sectors.
