Latam Insights: Brazil Bans Predictions Markets, Report Highlights Area’s Mining Potential

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On April 24, Brazil banned non-financial prediction markets , proscribing future by-product trades. Hashrate Index sees Latam turning into a Bitcoin mining hub, fueled by Brazil’s 133% YoY hashrate progress. Itau Ventures invested $10M in Minter to deal with future inexperienced vitality waste by way of cellular Bitcoin mining . Brazil Points Ban on Non-Monetary Prediction Market Contracts The Nationwide Financial Council of Brazil has revealed a decision that points a blanket ban on prediction market contracts associated to non-financial underlying occasions.

Decision No. 5,298, issued on April 24, established that by-product contracts associated to actual sporting occasions, digital on-line gaming occasions, or actual or digital occasions of a political, electoral, social, cultural, or leisure nature are prohibited within the nation.

Equally, the decision establishes that derivatives tied to financial and monetary benchmarks, together with costs or charge indices, securities indices, bond indices, rates of interest, and alternate charges; or the costs of commodities , monetary belongings, and securities traded on organized alternate and over-the-counter markets, will likely be allowed.

The measure comes after a Technical Notice from the Secretariat of Prizes and Betting (SPA), Brazil’s playing watchdog, thought-about that prediction market platforms “merely reproduce the important parts of mounted quota bets.”

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Hashrate Index: Brazil and Venezuela Present Potential to Develop Latam’s Bitcoin Mining Share Whereas the worldwide share of bitcoin mining hashrate is dominated by nations just like the U.S., China, and Russia, Latam may be on the verge of turning into a bigger participant on this market.

In accordance with Hashrate Index’s “The State of Bitcoin Mining in Latin America (2026)” report, whereas Paraguay has the fourth place of nations internet hosting probably the most bitcoin hashrate with 43 EH/s and 4.3% of the worldwide hashrate , Brazil and Venezuela have the potential to develop and switch Latam right into a Bitcoin mining superpower.

Brazil, which has elevated its hashrate share by 133% year-over-year, has opened new alternatives for miners, as they'll now negotiate instantly with corporations within the vitality era market to lock up tariffs, bypassing distributor tariffs and different surcharges.

Venezuela, then again, reveals an untapped potential, because it registers 5 EH/s even underneath the present circumstances.

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Largest Financial institution in Brazil Strikes to Spend money on Bitcoin Mining Itau, one of many largest banks in Brazil, has turned its gaze on bitcoin mining and knowledge facilities.

In accordance with native media, Itau Ventures, the financial institution’s funding arm, has made an undisclosed funding in Minter. This firm seeks to resolve one of many largest issues in inexperienced vitality installations: curtailment.

Minter takes {hardware} that's usually confined to a hard and fast location and combines it with cellular containers, turning these actions into initiatives that may be executed instantly the place renewables are generated.

The funding, reaching as much as $10 million, positions Minter in its place for all vitality producers searching for to leverage vitality that may be wasted or not produced, backed by Itau’s title.