Brazilian solar power producer Thopen is considering venturing into Bitcoin mining to utilize surplus energy generated within the country's rapidly expanding renewable energy sector. According to Thopen's CEO, Gustavo Ribeiro, the company views Bitcoin mining as a way to monetize excess renewable energy and offset losses from power curtailment.
Thopen is evaluating several solutions to absorb locally generated surplus energy, including building data centers and Bitcoin mining operations near load areas. Ribeiro highlighted that Thopen's strategy involves multiple revenue streams, a diversified portfolio, and a financial structure that does not rely on overleverage. The company is actively investing in instruments to minimize the impacts of curtailments, such as battery technology for energy storage, which adds flexibility to the system.
Thopen has an ambitious growth target and is actively evaluating a robust acquisition pipeline of approximately 2.5GW of projects, including both distributed generation (DG) and centralized generation (CG). Following the acquisition of Matrix's 45 plants, Thopen is approaching 700MWp of installed capacity, and aims to surpass 1GWp by the end of next year through mergers and acquisitions.
The company's investments are focused on expanding its asset portfolio and technological innovation, with the goal of reaching 1GWp of capacity by the end of 2026. Thopen is also directing significant resources toward flexibility technologies, such as battery storage, which it considers the next big wave in the sector.
Thopen currently has over 600 MW of operational capacity within the group, together with Pontal Energy, in centralized generation, including wind, solar, and biogas. In distributed generation, the company seeks the necessary capillarity for retailers and end consumers, believing that source diversification and a robust portfolio allow them to offer their customers the best, most cost-effective, and sustainable solutions.
The move by Thopen comes as France is also considering a bill to accumulate 2% of Bitcoin's total supply and establish a Bitcoin Strategic Reserve. The French bill proposes the acquisition of 420,000 BTC over 7-8 years, as well as using nuclear and hydro power to mine Bitcoin. France would use its surplus nuclear and hydroelectric energy to mine Bitcoin domestically, supporting both sustainable energy and financial independence. The bill also includes pro-crypto reforms, such as legalizing euro stablecoins and rejecting a digital euro.
