Key Takeaways
- Sangha is building a 19.9MW solar-powered Bitcoin mining facility in Texas.
- The site uses a behind-the-meter setup to draw energy directly from a nearby solar plant.
- Sangha has raised $14 million of its $17 million goal and offers direct infrastructure investment options for accredited investors.
Sangha Renewables has broken ground on a 19.9-megawatt Bitcoin mining facility in West Texas, powered entirely by solar energy through a behind-the-meter setup.
This structure enables the site to draw power directly from a nearby solar plant rather than the grid, reducing costs and increasing efficiency.
Benefits of the mining operation
The solar plant, previously underutilized due to grid congestion and negative energy pricing, will now benefit from Sangha’s mining operation, which serves as a flexible load.
Spencer Marr, co-founder and CEO of Sangha Renewables, said:
This is a win-win-win. The IPP earns more per megawatt-hour, our investors gain exposure to low-cost bitcoin production, and we deliver grid-stabilizing load where it’s needed most.
Financing & investment model
To finance the project, Sangha has raised $14 million of its $17 million target.
Its investment model departs from traditional stock-based methods, allowing accredited investors to fund infrastructure directly via special purpose vehicles (SPVs).
Investors can contribute cash or bitcoin and receive payouts in bitcoin priced below market value.
Operational strategy & future prospects
Sangha’s platform uses high-resolution forecasting tools to optimize mining operations based on 15-minute intervals of energy pricing and profitability data.
The facility is set to be operational by Q3 2025 and will serve as a proof-of-concept for similar projects across underutilized renewable sites nationwide.
