Brazilian solar firm Thopen considers Bitcoin mining to absorb surplus power

Brazilian solar energy company Thopen is reportedly exploring Bitcoin mining as a way to monetize excess renewable power and offset curtailment losses.

Brazilian solar power producer Thopen is exploring a move into Bitcoin mining to absorb surplus energy generated by the country’s fast-growing renewable sector, the company’s CEO told local outlet BN Americas.

Gustavo Ribeiro, who is CEO of Thopen and its majority owner, Pontal Energy, told BN Americas the company is considering expanding into Bitcoin (BTC) mining, according to a Wednesday report. When asked how Thopen plans to address Brazil’s energy oversupply, Ribeiro said the company is mitigating the issue through diversification.

He added that the company is also “evaluating solutions such as data centers and Bitcoin mining near the load to absorb locally generated energy.”

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