Company & Operations
A Florida C-corporation built around a single structural advantage — contracted solar energy at a fraction of grid cost — and a phased hardware plan disciplined by SBA financing readiness.
Corporate structure at a glance
| 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 | 1 BTC founder loan |
| Monetary Standard | Bitcoin Standard treasury policy |
| Current Rig Count | 6 active S19 Pro rigs (~110 TH/s each) |
| Expansion Target | 96 rigs through phased SBA financing by Q3 2029 |
| Targeted IPO Date | July 12, 2027, NYSE American (AMEX) |
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 directly 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) | ~$455,380/year |
Uptime is supported by a 50 kW battery storage pod architecture, designed to buffer solar variability and grid dependency as the fleet scales.
From 6 rigs today to a 96-rig fleet by Q3 2029
Each phase pairs a hardware generation with a hashrate, power draw, and monthly BTC production target.
| Phase | Rigs | Hardware | Hashrate | Power Draw | BTC/Mo | Efficiency |
|---|---|---|---|---|---|---|
| Phase 0 Current | 6 | S19 Pro | 660 TH/s | ~19.5 kW | ~0.15 BTC | 29.5 J/TH |
| 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 |
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 June 30, 2026, SunBit pivoted to pool mining — trading lottery-style variance for steady, forecastable BTC production that underpins the financial projections used throughout this site.
SBA 7(a) Financing Readiness Checklist
Non-dilutive scaling from Phase 0 to Phase 3 depends on qualifying for SBA 7(a) financing. Here is the current status of each requirement.
| 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 |