1,888 contiguous pre-zoned acres on the Pearce Farms parcel in Eloy, Arizona. Engineered as 30 modular 10 MW subdivisions, each producing revenue the moment it energizes. No utility offtake required.
Every utility-scale solar project in Arizona is racing the same clock. Interconnection study. PPA negotiation. Curtailment risk. Years on the queue before the first electron sells.
BrightEloy is not in that race. There is no PPA to sign. There is no interconnection study to commission. The first 10 MW subdivision begins generating revenue inside Year 2, while every grid-tied competitor in the corridor is still in study.
"The constraint shifts from utility timeline to construction timeline, and construction timeline is something we control."
Contiguous, pre-zoned, and inside the most active energy and digital-infrastructure corridor in the American Southwest. The Pearce Farms parcel is the public-record Sonak Solar entitlement, with no APS, SRP, TEP, or WAPA queue entries and no filed PPA. Clear title to the resource. Clear title to the strategy.
Within 25 miles of BrightEloy, more than $42.5 billion of disclosed capital is being deployed across at least twelve announced or operating projects, totaling more than 5,500 MW of solar, gas, battery, and data-center capacity. The neighborhood is the thesis.
Vermaland · up to 3 GW · 59 hyperscale buildings, two gas plants, BESS. The largest data-center development ever proposed in the United States.
Approved Nov 2025, within 18 miles of Pearce Farms. ~500 acres of data-center and generation campus near SR-347.
Ørsted and SRP. 300 MW solar plus 300 MW / 1,200 MWh BESS. Anchors Meta's 2.5M sq ft Mesa data center.
NextEra. Up to 800 MW plus 800 MW BESS across two phases. Direct corridor peer at 3,870 acres.
Gas plus BESS hybrid south of Casa Grande. 480 to 520 MW gas, 400 to 440 MW BESS. COD late 2028.
Less than 30 miles north. Apple, Boeing, and ASU also offtake from Central Line Solar in the same SRP region.
"Every megawatt of generation capacity within transmission reach of the Mesa, Phoenix, Pinal cluster has a paying buyer. The risk is no longer can we sell the power. The risk is timing."
Each 10 MW subdivision is a fully formed operating business. Its own LPs, its own equity or debt stack, its own depreciation, its own power-sales agreement to BrightBTC at $0.08 per kWh. BS1, BS2, and BS3 are equity-financed first, then serve as collateral for senior debt that funds BS4 through BS30.
Hardware partner: Bitmain. Hydro-cooled S21 XP Hyd-class miners in AntSpace HK3 V6 containers, with Bitmain Turnkey Hosting and the AMTC operator certification program on-site.
"Overrun on any single 10 MW unit is bounded."
Proforma v4.7 (June 2026). $28.3M land, $100M G1 equity, $189M G2 LP down, ~$714M G2 debt. Hard CapEx ~$894M.
Each sub-LLC sells generation to BrightBTC at this rate, producing lowest-quartile mining cost on day one.
Base-case net benefit multiple on a 25-year hold (BTC treasury plus hyperscale PPA). Returns depend materially on BTC appreciation; see materials.
Each phase is designed to be funded, energized, and producing revenue before the next phase begins.
PSA signed and the first $1M raised (earnest plus due diligence). BE Land Holdings takes the parcel down free and clear. Construction begins before July 1, 2026 to lock the ITC safe harbor.
The 120-day due-diligence period completes and the land closes free and clear (target September 2026). Entitlement and permitting in hand.
The first sub-LLC (BS1) closes: Group 1 equity plus the senior construction facility. BS1 to BS3 equity collateralizes the senior debt for the rest of the buildout.
First 30 MW placed in service with the equity raise. Revenue begins and the ITC starts phasing in as megawatts energize.
The balance of the sub-LLCs energize to a full 300 MW, with construction complete by Dec 31, 2029 for full ITC. Mined Bitcoin is held as a growing treasury; operators are trained through the AMTC program.
Mined Bitcoin is held as a treasury through ~2031. 100 MW converts to a hyperscale PPA in 2032 and 200 MW in 2033 at $0.18/kWh (+2%/yr). Long-horizon hold with terminal-sale options at 10/15/20/25 years.
Construction begins before July 1, 2026 to lock the federal Investment Tax Credit safe harbor with PSI. The project secures approximately $226M of gross ITC ($203.4M monetized at 90%), recognized as megawatts are placed in service. The ITC is a project-level credit and does not transfer with the land. §48E remains available through 2033, OBBBA restored 100% bonus depreciation under §168(k) permanently in July 2025, and §6418 transferability is part of the stack. The tax position has been validated by independent counsel (Novogradac, Avisen Legal).
BrightEloy is the platform. The opportunity is to own and operate one of its 10 MW sub-LLCs as a limited partner: an active Bitcoin mining business with a targeted 4 to 6% yield paid in Bitcoin, plus bonus depreciation against active income. Real business, real depreciation, real cash flow.
