Bitcoin mining advances in Brazil with tax exemptions. Projects are covered by tax incentives from the Lula government and states.

The most advanced of the ventures, from Renova Energia, has already received authorizations from ONS (National System Operator) and environmental license from the state of Bahia. The project foresees an investment of US$ 200 million (R$ 1.09 billion) in an infrastructure with an installed capacity of 100 megawatts and an electricity consumption similar to that of a city of 1 million inhabitants.

The establishment called Satoshi — a reference to the creator of Bitcoin and the minimum fraction of the currency, a piece of one in 100 million — will begin operations in 2026 and will be exclusively dedicated to mining.

In the arrangement, Renova provides physical and energy infrastructure and offers technical assistance, while a partner from the cryptocurrency sector handles the mining operation and the marketing of the assets. The power generator, one of the largest in the country, does not reveal who its business partner is due to confidentiality clauses.

The company is not alone: at least two other renewable energy generators have similar requests for connection to the grid at ONS underway. Atlas Renewable Energy and Serena Energia, which have their own projects, declined to comment on requests.

The cryptocurrency giant Tether is also investing in bitcoin mining with biomethane in Mato Grosso do Sul.