19.9MW Bitcoin Mine Co-located with West Texas Solar Project to Issue Over $10M in Equity
SAN FRANCISCO , Dec. 5, 2024 /PRNewswire/ — Plural Energy, the on-chain investment platform driving the global transition to clean energy, today helps renewable energy companies convert surplus electricity into Bitcoin announced a partnership with Sangha Renewables, a company that Sangha will soon begin construction on its newest mining operation, a 19.9 megawatt contract with a major renewable energy company in West Texas. Through Plural's technology platform and affiliated broker-dealers, accredited investors can choose to invest directly in Bitcoin mining and receive distributions in USD or mined Bitcoin.
“While mining Bitcoin may seem incompatible with the fight against climate change, that is not necessarily the case,” said Adam Silver, co-founder and CEO of Plural Energy. Ta. “In places where grid congestion and negative prices are challenges for renewable energy projects, Sangha’s approach increases economic feasibility.” We will enable more investors to access mining profits while advancing our energy initiatives.”
Plural Energy's newest asset: a 19.9MW Bitcoin mine co-located with a solar project in West Texas worth more than $10 million.
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About Sangha
By strategically mining Bitcoin during periods of low or negative energy prices, Sangha creates a reliable revenue stream for power producers without the need for upfront capital. This strategy addresses the problem of energy retention and reduces waste by converting energy into Bitcoin. Renewable energy companies affiliated with Sangha currently face a 10% chance of negative energy prices. 1 The company is currently expected to improve its profits by nearly 4% through Bitcoin mining. 2 Meanwhile, on the mining side, this project is expected to do mining. Bitcoin is trading at a 25-50% discount to the spot price because the energy it buys from renewable projects is so cheap. 3 Click here to learn more about this service.
Spencer Ma, president and co-founder of Sangha Renewables, said: “At Sangha, our primary focus is on increasing the economics of renewable energy through Bitcoin mining, but we are also investing in projects. “We also want to make it easier than ever to participate in Bitcoin mining.” “Plural’s capital formation technology enables diverse investors to actively participate in the transition towards a clean, distributed energy future. Needless to say, through Plural’s technology, investors can and receive BTC or USD.
About multiple energies
Plural makes investing in the clean energy transition easier than ever. Its investment platform will enable more investors, from funds and asset managers to alternative retail investors and retirement savers, to access high-yield renewable energy assets to meet 2030 climate goals. It will help close the $4 trillion funding gap needed to achieve that goal. 4 For more information, please visit www.pluralfinance. .com.
Media contact:
Tess Powlish
608-333-9788
[email protected]
1 Past performance of solar projects is available in the Genesis Phase 1 Data Room (available upon signing NDA)
2 Ibid.
3 Sangha Energy Price Analysis available in Genesis Phase One Data Room (available upon signing NDA)
4 https://www.imf.org/en/Blogs/Articles/2023/11/27/world-needs-more-policy-ambition-private-funds-and-innovation-to-meet-climate-goals
sources multiple energy
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