June 4 (Renewables Now) – Sangha Systems, the developer of an 82-MW cryptocurrency mining facility in Illinois, is taking the first steps to migrate its electricity consumption towards renewable energy.
The company said on Thursday that it has signed a letter of intent (LoI) with AEP OnSite Partners to develop a fully behind-the-meter solar power array with a capacity of between 2 MW and 5 MW. Moreover, the firm plans to use the blockchain-controlled sensor technology of Sunified Inc to track and trace every kilowatt hour flowing between the solar panels, its mining rigs and the grid, it added.
Sangha Systems’ crypto mining site was developed at a former steel mill in Hennepin. The project was initiated in 2018.
“We have worked for three years to build a track record of excellence and establish the business profile that would enable us to get a solar deal done in Hennepin. As market analysts and the general public have recently woken up to the energy consumption of mining and the possibility of turning all that demand for electricity into clean energy, we think our thesis has been validated. This is just the start for us,” said Spencer Marr, president and co-founder of Sangha Systems.