AcquisitionsMay 28, 2026, 08:32 AM
Olenox Industries Acquires CS Digital Ventures for up to $50M
AI Summary
Olenox Industries Inc. completed the acquisition of 100% of CS Digital Ventures, LLC, an energy-intensive data center and digital infrastructure company. The transaction involved an upfront consideration of $30 million and potential earnout of up to an additional $20 million. This acquisition establishes a vertically integrated, gas-powered digital infrastructure platform, aiming to convert low-cost natural gas into compute at the point of generation and target power costs below $0.02 per kWh.
Key Highlights
- Olenox Industries acquired 100% of CS Digital Ventures, LLC.
- Upfront consideration totaled $30 million, comprising $14 million in Series D Preferred Stock and a $16 million unsecured promissory note.
- Additional consideration includes warrants for 1,500,000 common shares and up to $20 million in earnout shares.
- CS Digital contributes approximately 35 MW of installed power capacity.
- CS Digital reported $20.6 million in revenue and $6.2 million in EBITDA for 2025.
- The combined platform targets all-in power costs of less than $0.02 per kWh.
- Stockholder approval is required for the conversion of Series D Preferred Stock and exercise of warrants.
Price Impact
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