Minter, a Brazil-based digital infrastructure startup focused on using renewable energy to power mobile data centers, has raised a Series A investment to expand its operations and accelerate the deployment of its energy-focused computing infrastructure. The round was led by Itaú Ventures, with participation from Leste Group and Legend Capital. The company did not publicly disclose the exact amount invested, but Itaú said the investment falls within its historical venture investment range of R$20 million to R$50 million.

Founded in 2023, Minter develops mobile data centers designed to be installed at renewable energy generation sites. The company’s approach focuses on using excess renewable power that might otherwise be curtailed or left unused by connecting computing infrastructure directly to energy sources. By deploying flexible data center units near power plants, Minter aims to help energy producers monetize surplus generation while supporting digital infrastructure growth.

The newly announced financing will support Minter’s expansion plans, including the purchase of additional machines and the deployment of more capacity across Brazil. The company plans to increase its operational footprint as it works with renewable energy generators seeking new ways to maximize the value of their electricity production. Minter has stated ambitions to reach 40 megawatts of capacity by the end of the year and 500 megawatts by 2029.

Minter’s business model combines renewable energy utilization with high-performance computing infrastructure. The company installs containerized data centers equipped with computing machines that can process digital workloads, including cryptocurrency mining operations. These facilities are designed to operate at locations where excess renewable energy is available, helping address challenges related to energy curtailment and transmission limitations.

The investment from Itaú Ventures represents the bank’s continued expansion into technology and digital infrastructure opportunities. Itaú Unibanco announced that the Minter investment was made through its corporate venture capital structure, Itaú Ventures, and represents one of its early investments following the creation of the investment platform.

Grupo Leste participated in the Series A round, bringing additional backing from an investment platform focused on alternative investments, including private equity and other asset classes. Leste has operations across multiple financial markets and invests in opportunities where technology, market shifts, and emerging trends create new investment opportunities.

Legend Capital also joined the financing round. The venture capital and private equity firm focuses on early-stage and growth-stage investments, particularly in technology, healthcare, consumer, enterprise services, and intelligent manufacturing sectors. Its participation adds international investment support as Minter evaluates future expansion opportunities beyond Brazil.

Minter’s technology addresses a growing issue in renewable energy markets: the mismatch between energy generation and consumption capacity. Renewable sources such as solar and wind can sometimes produce more electricity than grids can immediately absorb, leading to wasted generation. By placing flexible computing infrastructure near these energy sources, Minter aims to create additional demand for electricity while supporting digital services.

The company’s strategy comes as demand for computing infrastructure continues increasing globally, driven by areas such as artificial intelligence, cloud services, and digital assets. Energy availability has become a key consideration for data center operators, making solutions that combine power generation and computing capacity increasingly relevant.

Minter plans to use its new capital to expand its portfolio of facilities and increase the number of customers it serves. The company is also exploring international opportunities, particularly in markets where renewable energy resources and advanced computing infrastructure can be combined to create new economic opportunities.

The funding round highlights growing investor interest in companies operating at the intersection of energy transition and digital infrastructure. As renewable energy adoption increases, startups like Minter are seeking to solve infrastructure challenges by creating new ways to use available electricity and support emerging technology markets.

With backing from Itaú Ventures, Leste Group, and Legend Capital, Minter is positioned to continue expanding its renewable energy-powered data center model. The company aims to build a flexible infrastructure network that helps renewable energy producers capture additional value while supporting the growing global demand for computing resources.

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