Latam Insights: Brazil Bans Predictions Markets, Report Highlights Region’s Mining Potential
Key Takeaways:
Hashrate Index: Brazil and Venezuela Show Potential to Grow Latam’s Bitcoin Mining Share
While the global share of bitcoin mining hashrate is dominated by nations like the U.S., China, and Russia, Latam might be on the verge of becoming a larger player in this market.
According to Hashrate Index’s “The State of Bitcoin Mining in Latin America (2026)” report, while Paraguay has the fourth place of countries hosting the most bitcoin hashrate with 43 EH/s and 4.3% of the global hashrate, Brazil and Venezuela have the potential to grow and turn Latam into a Bitcoin mining superpower.
Brazil, which has increased its hashrate share by 133% year-over-year, has opened new opportunities for miners, as they can now negotiate directly with companies in the energy generation market to lock up tariffs, bypassing distributor tariffs and other surcharges.
Venezuela, on the other hand, shows an untapped potential, as it registers 5 EH/s even under the current conditions.
Largest Bank in Brazil Moves to Invest in Bitcoin Mining
Itau, one of the largest banks in Brazil, has turned its gaze on bitcoin mining and data centers.
According to local media, Itau Ventures, the bank’s investment arm, has made an undisclosed investment in Minter. This company seeks to solve one of the largest problems in green energy installations: curtailment.
Minter takes hardware that is normally confined to a fixed location and combines it with mobile containers, turning these activities into initiatives that can be executed directly where renewables are generated.
The investment, reaching up to $10 million, positions Minter as an alternative for all energy producers seeking to leverage energy that would be wasted or not produced, backed by Itau’s name.
About Author
