Olenox Industries (NASDAQ: OLOX) reported its first monthly operating update following the acquisition of CS Digital Ventures, announcing production of approximately 18.6 bitcoin during May 2026 and an average operational hashrate of approximately 1.30 EH/s. The company said its mining fleet consists of 9,584 current-generation S21-class ASIC miners representing approximately 35 MW of installed capacity and 2.19 EH/s of nameplate hashrate, with operations currently conducted through third-party hosting facilities drawing power from the ERCOT grid.
Olenox said May production reflected planned summer curtailment and low-power-mode operations designed to protect equipment during periods of high heat in Texas. The company noted that its long-term strategy is to combine Olenox’s natural gas assets with CS Digital’s data center operations to develop off-grid, gas-powered facilities targeting all-in power costs below $0.02 per kWh, following the completion of its acquisition of CS Digital on May 28, 2026.
The acquisition, completed in late May, positions Olenox to vertically integrate its energy operations with bitcoin mining, aiming to reduce electricity costs significantly. By utilizing its own natural gas resources, the company expects to achieve power costs well below the industry average, which is a critical factor in mining profitability. The move reflects a broader trend of energy companies entering the cryptocurrency mining space to monetize stranded or low-cost energy assets.
For investors, this development signals Olenox’s pivot toward energy technologies and its commitment to scaling bitcoin mining operations. The company’s ability to manage curtailment during Texas heat waves demonstrates operational prudence, while the long-term plan for off-grid facilities could provide a competitive advantage. The reported hashrate of 1.30 EH/s, though below the nameplate capacity of 2.19 EH/s due to curtailment, indicates active mining operations.
The full press release is available at https://ibn.fm/XrzkI. Olenox Industries Inc. (NASDAQ: OLOX) is a vertically integrated energy company operating across oil and gas, energy services, and energy technologies, focused on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets.
