# 070 Profitable Bitcoin Mining at Hash Price $30 w/ Spencer Marr

Page: https://stenobird.com/podcast/hashrateup-a-bitcoin-mining-podcast-6575766/070-profitable-bitcoin-mining-at-hash-price-30-w-spencer-marr
Text version: https://stenobird.com/podcast/hashrateup-a-bitcoin-mining-podcast-6575766/070-profitable-bitcoin-mining-at-hash-price-30-w-spencer-marr.md
Podcast: [HashrateUp - A Bitcoin Mining Podcast](https://stenobird.com/podcast/hashrateup-a-bitcoin-mining-podcast-6575766)
Published: 2026-02-16T14:11:47+00:00
Episode link: https://podcasters.spotify.com/pod/show/ben-raich8/episodes/070-Profitable-Bitcoin-Mining-at-Hash-Price-30-w-Spencer-Marr-e3ibmcm
Audio file: https://anchor.fm/s/111cf6d4c/podcast/play/118921046/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-3-23%2F422695257-44100-2-2f6654913d7b90c1.mp3
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JSON: https://stenobird.com/v1/public/podcasts/hashrateup-a-bitcoin-mining-podcast-6575766/episodes/070-profitable-bitcoin-mining-at-hash-price-30-w-spencer-marr
Duration seconds: 2555

## Resource

🔗 Spencer Marr: LinkedIn: https://www.linkedin.com/in/spencermarr/ 🔗 Sangha Renewables: LinkedIn: https://www.linkedin.com/company/sangha-systems/Website : https://sangarenewables.com In this episode of HashrateUp, Jesse sits down with Spencer Marr, President at Sangha Renewables, to break down how their 20MW solar mining project with Total Energies stays profitable even at hash price $30. Spencer explains Sangha's project finance approach to Bitcoin mining, how they achieved 2.8¢/kWh all-in power costs through behind-the-meter co-location, and why their strike price arbitrage strategy allows them to maintain 85% uptime while staying cash flow positive. The conversation covers nodal pricing advantages, the economics of solar mining versus grid-tied operations, and how conservative hash price modeling convinced traditional banks to provide long-term project financing. Key topics include hydro cooling infrastructure for sub-minute throttling, the trade-offs between machine efficiency and capital deployment, why letting the trading team lead deals is a mistake, and how Sangha's lean development platform prioritizes IRR over stock price appreciation. Spencer shares transparent insights on what worked, what didn't, and why margin per megawatt hour matters more than blanket uptime assumptions. 🛠 Sponsored by: Hashbranch – Hosting & hardware made simple Code: HASHRATEUP100 https://hashbranch.com SoloMining – Home & solo mining made easy Code: HASHRATEUP https://solomining.de Altair Technology – Buy Bitcoin Mining Solutions Code: HASHRATEUP https://altairtech.io 📲 HashrateUp Hardware Deals Telegram: https://t.me/hashrateup 📩 Learn Bitcoin Mining (Free 5 Day Course) https://hashrateup.com/newsletter-sign-up/

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