"We realized that by providing all the infrastructure (for crypto mining), we were one step ahead of our competitors." Brazil’s energy oversupply stems from years of government incentives that spurred a boom in wind and solar investments. Enegix is looking into deals in Brazil's northeast, the region suffering from the biggest energy surplus, including tapping into solar and wind power in the state of Piaui. Casa dos Ventos, which partners with France's TotalEnergies on wind power, and U.S.-based investment firm Global Infrastructure Partners' (GIP) Atlas Renewable Energy confirmed their intentions to Reuters. Brazil also has infrastructure problems and lacks regulations for cryptocurrency mining.