Company & Operations
A Florida C-corporation built around one structural advantage: contracted solar energy at a fraction of grid cost, paired with a phased hardware plan tied to SBA financing readiness.
Corporate structure at a glance
| Field | Value |
|---|---|
| Corporate Name | SunBit Mining Corporation |
| Entity Type | C-Corporation |
| State of Formation | Florida |
| Principal Office | Gainesville, FL |
| Industry | Cryptocurrency Mining / Digital Asset Production |
| Primary Asset Mined | Bitcoin (BTC), Proof-of-Work |
| Contracted Power Supplier | The Florida Sun Farms Corporation (PPA counterparty) |
| Contracted Energy Rate | $0.04/kWh (vs. GRU commercial $0.19/kWh) |
| Energy Savings | 79% reduction |
| Banking Relationship | Bank of America (primary); SBA 7(a) financing pipeline active |
| Founding Capital | Founder loan (details available upon request) |
| Treasury Policy | Bitcoin Standard: mined BTC is held in treasury, and a portion is periodically converted to USD to fund operations (see Bitcoin Production & Treasury) |
| Current Rig Count | 6-rig fleet, in transition from S19 Pro to T21 hardware, one unit at a time (~110 TH/s per S19 Pro unit, ~660 TH/s combined at current fleet mix) |
| Expansion Target | 96 rigs through phased SBA financing by Q3 2029 |
| Target Listing Date | July 12, 2027, NYSE American (AMEX); target only, not guaranteed |
Founder Compensation & Governance
A no-salary compensation posture, by design
Ahead of the targeted public listing, founder compensation is structured as a per diem and a solar-vehicle stipend rather than a salary. In place of cash compensation, equity is drawn from the Founders/Management/Reserved Pool in the form of options, aligning founder incentives with equity value creation rather than fixed pay.
Governance is being built for public-company readiness ahead of schedule: corporate formation documents are complete, tax compliance filings (Form 1120) are current, and banking and financing relationships are active well before the IPO target date.
The $0.04/kWh contract is the core of the model
Every phase of expansion is priced against the same structural energy advantage: a fixed-rate power purchase agreement with The Florida Sun Farms Corporation.
| Power Source | Rate | Monthly Cost @ 96 Rigs |
|---|---|---|
| The Florida Sun Farms (Contracted) | $0.04/kWh | ~$9,981/mo |
| GRU Commercial Grid | $0.19/kWh | ~$47,409/mo |
| SunBit Net Savings (96-rig, annualized) | n/a | ~$455,380/year |
Uptime is supported by a 50 kW battery storage pod architecture, arranged as a cross configuration of four 12.5 kW arms. The pod currently in service is running two of the four arms online (25 kW, roughly half of rated capacity), with the remaining arms held in reserve for future scale-up.
Modular, containerized infrastructure engineered for uptime
SunBit’s compute fleet is deployed inside modular, containerized racks engineered for maximum uptime and predictable thermal performance. Each container houses a standardized rack layout optimized for airflow, cable management, and serviceability, with power distribution units mounted for clean routing.
A closed-loop chilled-water cooling system extracts heat directly from rack-mounted cold plates via insulated manifolds and redundant chillers, reducing thermal throttling and extending hardware lifespan. The cooling loop draws on the same contracted solar power as the mining fleet, keeping thermal management cost-predictable as the fleet scales.
All mining containers connect through redundant fiber links with automatic failover, and on-site monitoring provides real-time performance analytics across power, cooling, and hashrate.
From 6 rigs today to a 96-rig fleet by Q3 2029
| Phase | Rigs | Hardware | Hashrate | Power Draw | BTC/Mo (modeled) | Efficiency |
|---|---|---|---|---|---|---|
| Phase 0 (Current) | 6 | S19 Pro, transitioning to T21 one unit at a time | 660 TH/s (S19 Pro baseline) | ~19.5 kW (S19 Pro baseline) | ~0.15 BTC | 29.5 J/TH (S19 Pro baseline) |
| Phase 1 (IPO Target) | 24 | T21 | 4,560 TH/s | ~87 kW | ~1.04 BTC | 19 J/TH |
| Phase 2 | 48 | T21 | 9,120 TH/s | ~173 kW | ~2.07 BTC | 19 J/TH |
| Phase 3 (Full Fleet) | 96 | T21 | 18,240 TH/s | ~347 kW | ~4.15 BTC | 19 J/TH |
BTC/Mo figures are modeled production estimates at each phase’s hashrate and current network difficulty. See Bitcoin Production & Treasury for actual, dated USD-conversion records.
Mining Strategy: Why SunBit Pivoted from Solo to Pool Mining
Solo mining exposed SunBit to extreme production variance when measured against a global network exceeding 700 EH/s of hashrate. After two full years of solo mining without solving a single block, the company made a deliberate operating change.
On July 1, 2026, SunBit pivoted to pool mining, trading lottery-style variance for steadier, more forecastable BTC production that underpins the financial projections used throughout this site.
SBA 7(a) Financing Readiness Checklist
| Requirement | Status |
|---|---|
| Bank of America Primary Account | Active |
| Pool Mining Revenue Records | In Progress |
| Corporate Formation Documents | Complete |
| Tax Compliance (Form 1120) | Filed |
| Energy Supply Agreement | Executed |
| Equipment Appraisal (ASIC Rigs) | In Progress |
| SBA Pre-Qualification Filing | Active |