Brazilian Solar Company Thopen Eyes Bitcoin Mining for Surplus Power Use

Brazilian solar developer Thopen is weighing a pivot into Bitcoin mining to soak up excess electricity from Brazil’s fast-expanding renewable fleet, its chief executive said this week. CEO Gustavo Ribeiro, who also heads parent company Pontal Energy, said the firm is exploring colocated data centers and Bitcoin mining facilities “near the load” so locally generated solar power can be monetized instead of curtailed. The strategy is part of a broader diversification push as Brazil wrestles with persistent oversupply from new wind and solar capacity.

Curtailment has become a costly reality for Brazilian solar operators as grid constraints and variable output force producers to dial back supply. Policymakers have floated new auctions for hydro and thermal capacity in 2026 to backstop reliability during lulls in renewables, but developers are searching for private-sector fixes today. For Thopen, converting surplus kilowatt-hours into digital assets is one route to stabilize cash flow while keeping projects online.

Brazil is not alone. Energy and industrial firms in other markets are testing similar “power-to-hash” models to turn stranded or surplus energy into revenue. In the United Kingdom, Union Jack Oil outlined plans to generate electricity from associated gas at its West Newton site to drive Bitcoin miners in an “oil-to-crypto” project. In Canada, AgriFORCE Growing Systems said it would use stranded gas to power an initial 120 Bitcoin mining rigs, with expansion on the table if economics hold.

If pursued, Thopen’s move would add Brazil to a growing list of jurisdictions where grid imbalances and cheap renewables make flexible computing loads attractive. Supporters argue that colocated miners can act like adjustable sponges for power, ramping up when supply is high and prices are low, and throttling back when the grid needs room, potentially easing curtailment while creating a new revenue stream. Regulation will shape outcomes.