Sangha Renewables Begins Construction on $42M Bitcoin Mining Project in Texas

Sangha Renewables, a bitcoin mining firm focused on renewable energy integration, has begun construction on a 19.9 MW solar facility in West Texas.

The project aims to allow renewable energy companies to mine bitcoin efficiently.
Spencer Marr, president of Sangha, emphasized the early investment in electrical infrastructure to expedite mining operations.
The approach targets renewable projects that face production and demand mismatches, enabling them to profit from excess electricity by switching to bitcoin mining rather than selling at a loss.
The facility is expected to generate $42 million in revenue within the first year and produce approximately 900 bitcoin over ten years.
Electricity costs for the project will range from 2.8 to 3.2 cents per kilowatt-hour, providing a significant discount on bitcoin acquisition.
Construction is projected to finish by late July, with mining commencing shortly after.
Sangha has raised $14 million towards its $17 million equity round target, securing 82% so far.
By fall, the company anticipates utilizing smart contract technology to distribute returns to investors in bitcoin.