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Brazil is advancing large-scale bitcoin mining projects through tax incentives for data centers, despite lacking specific environmental and energy security regulations. Renova Energia's project, requiring a $200 million investment, has received necessary approvals and will begin operations in 2026 with a capacity of 100 megawatts.

Other renewable energy companies, including Atlas Renewable Energy and Serena Energia, are pursuing similar initiatives. The Brazilian government has included mining machines in a tariff exemption program until 2027, promoting the use of renewable energy while raising concerns over environmental impacts.

Tether is also investing in bitcoin mining with biogas in Mato Grosso do Sul, benefiting from tax advantages. The legal framework for virtual assets lacks specific sustainability criteria, which has spurred debates on the balance between economic benefits and potential environmental risks.