Now Available on Plural: Bitcoin Mining by Sangha Renewables

$10M+ equity offering in a 19.9MW bitcoin mine co-located with a solar project in West Texas

SAN FRANCISCO, Dec. 5, 2024 /PRNewswire/ -- Plural Energy, the on-chain investing platform driving the global transition to clean energy, today announced a partnership with Sangha Renewables, a firm helping renewable energy companies convert excess electricity into bitcoin. Sangha will soon commence construction on its newest mining operation, a 19.9-megawatt deal with a major renewable energy company in West Texas. Through Plural's technology platform and affiliated broker-dealers, accredited investors can invest directly in the bitcoin mine and choose to receive distributions in US dollars or in mined bitcoin.

"Bitcoin mining might appear to be at odds with the fight against climate change, but it doesn't have to be," said Adam Silver, Co-founder and CEO of Plural Energy. "In places where grid congestion and negative pricing pose a challenge for renewable projects, Sangha's approach enhances their economic feasibility. By partnering with Plural and affiliated broker-dealers, Sangha enables more investors to access mining profits while advancing clean energy initiatives."

About Sangha
By strategically mining bitcoin during periods of low or negative energy pricing, Sangha creates a reliable revenue stream for power producers without requiring any upfront capital from them. This strategy addresses the issue of stranded energy and reduces waste by converting it into bitcoin. The renewable energy company partnering with Sangha currently faces negative energy prices 10% of the time.¹ The firm is now expected to improve its profits by nearly 4% through bitcoin mining.²  Meanwhile, on the mining front, the project is projected to mine bitcoin at a 25-50% discount to spot prices because the energy it is purchasing from the renewable project is so inexpensive.³  Learn more about the offering here.

"At Sangha, our primary focus is on enhancing renewable energy economics by mining bitcoin, but we also want to make investing in our projects and participating in bitcoin mining easier than ever," said Spencer Marr, President and Co-Founder of Sangha Renewables. "Plural's technology for capital formation enables a diverse pool of investors to actively participate in the shift toward a clean, distributed energy future. Not to mention, through Plural's technology, investors can set distribution preferences and receive BTC or USD."

ABOUT PLURAL ENERGY
Plural makes investing in the clean energy transition easier than ever. Its investing platform makes high-yield renewable energy assets accessible to more investors—from fund and asset managers to alternative retail investors and retirement savers—helping to close the $4 trillion financing gap needed to meet 2030 climate goals.⁴ Learn more at www.pluralfinance.com.

MEDIA CONTACT:
Tess Pawlisch
608-333-9788
[email protected]

¹ Solar Project Historic Performance available in Genesis Phase One 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

SOURCE Plural Energy