Project Launch and Funding Milestone
Sangha Renewables has officially begun construction of a 19.9-megawatt (MW) bitcoin mining facility in West Texas, the company announced via a press release. It also disclosed that it has raised $14 million toward a $17 million target, supporting its vision of merging sustainable power with digital asset infrastructure. The facility is designed to transform underutilized renewable energy assets into high-yield bitcoin-generating operations.
Behind-the-Meter Model and Power Purchase Agreement
The project is developed in partnership with an independent power producer (IPP) and will be located behind the meter at an established solar energy site. Under the offtake agreement, Sangha will purchase 19.9 MW of power directly from the IPP. The solar site suffers from grid congestion and negative energy pricing, making it an ideal fit for Sangha's load-balancing model. “It’s a win-win-win,” said Spencer Marr, co-founder and CEO of Sangha Renewables. “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.”
Innovative Capital Structure and Investor Returns
Sangha's model applies a project finance structure honed in the renewable energy and real estate sectors. Investors can contribute cash or bitcoin directly to the project's construction and then receive streaming distributions of bitcoin at well below market price for years to come. Marr stated, “Sangha is not just building bitcoin mining sites—we’re building a new model for how capital flows in and out of bitcoin... without intermediaries, speculative equities, or inefficiencies of datacenter hosting.”
Timeline and Significance
The facility is set to begin operations in Q3 2025 and will offer one of the lowest power costs in North America, according to the company. Sangha's approach relies on smart site selection, transparent capital structures, and regulatory expertise, positioning it as a leader in institutional-grade bitcoin mining. This facility serves as the company's proof-of-concept following the pivot from Sangha Systems to Sangha Renewables, underscoring its commitment to sustainable, scalable, and investor-aligned bitcoin infrastructure.