• On April 24, Brazil banned non-financial prediction markets, restricting future derivative trades.
• Hashrate Index sees Latam becoming a Bitcoin mining hub, fueled by Brazil’s 133% YoY hashrate growth.
• Itau Ventures invested $10M in Minter to tackle future green energy waste via mobile Bitcoin mining.

The National Monetary Council of Brazil has published a resolution that issues a blanket ban on prediction market contracts related to non-financial underlying events.

Resolution No. 5,298, issued on April 24, established that derivative contracts related to real sporting events, virtual online gaming events, or real or virtual events of a political, electoral, social, cultural, or entertainment nature are prohibited in the country.

Similarly, the resolution establishes that derivatives tied to economic and financial benchmarks, including prices or rate indices, securities indices, bond indices, interest rates, and exchange rates; or the prices of commodities, financial assets, and securities traded on organized exchange and over-the-counter markets, will be allowed.

The measure comes after a Technical Note from the Secretariat of Prizes and Betting (SPA), Brazil’s gambling watchdog, considered that prediction market platforms “simply reproduce the essential elements of fixed quota bets.”

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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.

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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.

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