Business UpdateJun 2, 2026, 08:36 AM
Olenox Industries Reports May Bitcoin Production Post-CS Digital Acquisition
AI Summary
Olenox Industries Inc. reported its first monthly Bitcoin production update for May 2026, following the acquisition of CS Digital Ventures, LLC on May 28, 2026. The company produced approximately 18.6 BTC with an average operational hashrate of 1.30 EH/s. The report details the company's strategy of converting natural gas into compute at the point of generation and outlines seasonal operational adjustments due to high heat in Texas. The acquisition of CS Digital for $30 million, comprising stock and a promissory note, is also recapped, highlighting CS Digital's existing infrastructure and revenue contribution.
Key Highlights
- Olenox Industries reported May 2026 Bitcoin production of approximately 18.6 BTC.
- Average operational hashrate for May was approximately 1.30 EH/s.
- Fleet utilization was approximately 81% of economic capacity during May.
- Installed fleet includes 9,584 S21-class ASIC miners with approximately 35 MW capacity.
- Olenox completed the acquisition of CS Digital Ventures, LLC on May 28, 2026, for $30 million.
- The acquisition includes upfront consideration of $14M in Series D Preferred Stock and a $16M unsecured promissory note.
- CS Digital contributed approximately 35 MW of installed power capacity and $20.6M in 2025 revenue.
Price Impact
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