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Itau Unibanco, through its VC arm Itau Ventures, has made an undisclosed investment in Minter, a company that installs mobile data centers and bitcoin mining operations across Brazil. Minter’s model is designed to use surplus renewable energy that would otherwise be curtailed or wasted.
Local media report that Itau Ventures invested up to $10 million in Minter. The company combines bitcoin mining and data center hardware—typically confined to fixed locations—with mobile containers that can be deployed directly at renewable generation sites.
“The Itaú seal helps encourage energy generators to feel comfortable opening their minds to the fact that a flexible data center within the parks can be a portfolio strategy,” said Stefano Sergole, CEO and founder of Minter.
Minter is currently serving one customer. Sergole estimates that the company could reach 40MW of capacity by the end of 2026, with plans to expand to 500MW by 2029 across Brazil and the United States.
The investment comes as renewable energy curtailment remains a significant issue. In Brazil, the article cites that 20% of solar and wind energy output was curtailed in 2025, resulting in $1.2 billion in losses—figures Minter says it targets with flexible demand.
In the United States, the article notes that Amperon estimated curtailment reached 20M MWh in 2024 and described the issue as accelerating.
Minter positions its mobile data center and bitcoin mining hardware as a way to convert unused energy into revenue-generating activity. Sergole said that, for the company’s flexible model, it has been more profitable to focus on bitcoin mining.
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