{"id":27865,"date":"2025-05-21T13:02:06","date_gmt":"2025-05-21T13:02:06","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27865"},"modified":"2025-05-21T13:02:06","modified_gmt":"2025-05-21T13:02:06","slug":"bitcoin-mining-startup-sangha-sees-42m-revenue-as-it-breaks-ground-on-west-texas-pilot-project","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27865","title":{"rendered":"Bitcoin Mining Startup Sangha Sees $42M Revenue as It Breaks Ground on West Texas Pilot Project"},"content":{"rendered":"
\n

Sangha Renewables, a bitcoin BTC mining firm that aims to enable renewable energy companies to mine bitcoin, broke ground Wednesday on its flagship 19.9 megawatt (MW) solar facility in West Texas.<\/p>\n

\u201cWe have been extremely pleased with the development so far,\u201d Spencer Marr, the firm\u2019s president, told CoinDesk in a statement. \u201cWe made the decision to use our own funds to buy long lead time electrical infrastructure last November, even prior to the deal closing, to ensure we could be mining as soon as possible, and that has paid off.\u201d<\/p>\n

\u201cWe also have a great team of partners and suppliers, including CSD Energy, EcoDigital, Moonshot Electrical, Fusion Industries, Greenhash and Pro Mining Solutions that have all pitched in to make this a success,\u201d Marr added.<\/p>\n

Whereas most mining companies focus on acquiring mining rigs and seeking the cheapest electricity contracts possible to produce bitcoin, Sangha\u2019s approach is markedly different<\/a>: to convince large renewable energy companies to incorporate bitcoin mining into their own business models.<\/p>\n

The pitch is simple. Green energy projects often suffer from a mismatch in production and demand. A wind farm, for example, may generate a lot of electricity on a windy night \u2014 right when everyone is asleep and consumption is lowest. Instead of selling<\/a> that surplus electricity at a loss, the affected company could potentially switch on bitcoin mining machines and turn a profit.<\/p>\n

The West Texas project is Sangha\u2019s pilot program. For now, Sangha itself owns the miner through a series of subsidiaries, and purchases electricity from the energy company, though the energy company may eventually integrate the operation.<\/p>\n

The project is expected to generate $42 million in revenue in the first 12 months and mine roughly 900 bitcoin over the next 10 years. It will have access to electricity for anywhere between 2.8 cents and 3.2 cents per kilowatt-hour on a 30-year lease, meaning that investors will be able to acquire bitcoin at a 25% to 50% discount.<\/p>\n

Construction is projected to close in the second half of July, though unforeseen events may push that back a month, Marr said. Bitcoin mining should begin soon as construction is complete.<\/p>\n

\u201cWe expect to commission the project over the summer and use that time to iron out any initial kinks,\u201d Marr said. \u201cWe purposely ordered 2% more ASICs than we needed to give us a margin of error for faulty machines.\u201d<\/p>\n

With $14 million raised so far through equity \u2014 partially thanks to Plural Energy, which enables mid-sized renewable energy projects to raise funds from investors on-chain<\/a> \u2014 Sangha has secured 82% of its $17 million equity round target for the West Texas project.<\/p>\n

\u201cBy the fall, we expect to be a well-oiled machine and to be utilizing Plural Energy\u2019s smart contract capabilities to stream distributions to our equity investors, who are excited by the idea of receiving distributions natively in bitcoin,\u201d Marr said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Sangha Renewables, a bitcoin BTC mining firm that aims to enable renewable energy companies to mine bitcoin, broke ground Wednesday on its flagship 19.9 megawatt (MW) solar facility in West Texas. \u201cWe have been extremely pleased with the development so far,\u201d Spencer Marr, the firm\u2019s president, told CoinDesk in a statement. \u201cWe made the decision […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27865","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27865"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27865\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}