Key points to remember:
- On April 24, Brazil banned non-financial activities prediction marketsrestricting future derivatives transactions.
- Hash rate Index sees Latam becoming a Bitcoin mining hub, fueled by Brazil’s 133% year-over-year growth hash rate growth.
- Itau Ventures invested $10 million in Minter to tackle future green energy waste via mobile Bitcoin mining.
Brazil bans non-financial activities Prediction Market Contracts
Brazil’s National Monetary Council issued a resolution completely banning prediction market contracts linked to underlying non-financial 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.
Likewise, the resolution establishes that derivative products linked to economic and financial benchmarks, including price or rate indices, securities indices, bond indices, interest rates and exchange rates; Or raw material prices, financial assets and securities traded on organized stock exchanges and on the counter markets, will be authorized.
The measure follows a technical note from the Secretariat of Prices and Betting (SPA), Brazil’s gambling watchdog, which estimated that prediction market platforms “simply replicate the essential elements of fixed quota betting.”
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Hash rate Hint: Brazil and Venezuela show growth potential in Latin America Bitcoin mining Share
While the global share of bitcoin mining hash rate is dominated by countries like the United States, China and Russia, Latam could be poised to become a bigger player in this market.
According to Hash rate Index “The state of Bitcoin mining in Latin America (2026)”, while Paraguay occupies fourth place among the countries welcoming the most bitcoin hash rate with 43 EH/s and 4.3% of the world total hash rateBrazil and Venezuela have the potential to grow and make Latin America a country Bitcoin mining superpower.
Brazil, which 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 power generation market to lock in tariffs, bypassing distributor tariffs and other surcharges.
Venezuela, on the other hand, has untapped potential, recording 5 EH/s even under current conditions.
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Brazil’s largest bank decides to invest in Bitcoin mining
Itau, one of Brazil’s largest banks, has turned its attention to 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 biggest problems with green energy installations: curtailment.
Minter takes equipment normally confined to a fixed location and combines it with mobile containers, transforming these activities into initiatives that can be executed directly where renewable energy is generated.
The investment, of up to $10 million, positions Minter as an alternative for all energy producers looking to harness energy that would be wasted or not produced, supported by the Itau name.
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