June 4 (Renewables Now) – Sangha Methods, the developer of an 82-MW cryptocurrency mining facility in Illinois, is taking the primary steps emigrate its electrical energy consumption in the direction of renewable vitality.
The corporate mentioned on Thursday that it has signed a letter of intent (LoI) with AEP OnSite Companions to develop a completely behind-the-meter solar energy array with a capability of between 2 MW and 5 MW. Furthermore, the agency plans to make use of the blockchain-controlled sensor know-how of Sunified Inc to trace and hint each kilowatt hour flowing between the photo voltaic panels, its mining rigs and the grid, it added.
Sangha Methods’ crypto mining website was developed at a former metal mill in Hennepin. The undertaking was initiated in 2018.
“We now have labored for 3 years to construct a observe file of excellence and set up the enterprise profile that might allow us to get a photo voltaic deal executed in Hennepin. As market analysts and most people have just lately woken as much as the vitality consumption of mining and the opportunity of turning all that demand for electrical energy into clear vitality, we expect our thesis has been validated. That is simply the beginning for us,” mentioned Spencer Marr, president and co-founder of Sangha Methods.