Olenox Industries Mines 18.6 BTC in May, Hits 81% Utilization on 35 MW Fleet
OLOX•Olenox Industries mined approximately 18.6 BTC in May 2026 at an average hashrate of 1.30 EH/s, utilizing 81% of its 35 MW, 9,584-unit S21-class fleet in the first operating update post-CS Digital acquisition. It aims to convert natural gas into compute at sub-$0.02/kWh power costs and will report monthly.
1. May 2026 Production Highlights
In May 2026, Olenox Industries mined approximately 18.6 BTC credited to its pool accounts, achieving an average hashrate of 1.30 EH/s and 81% fleet utilization across 9,584 S21-class ASIC miners representing 35 MW of installed capacity. These preliminary, unaudited figures are shown net of mining-pool fees and before settlement of hosting profit-share amounts.
2. Profit-Share Hosting Arrangements
The majority of the mining fleet operates under profit-share agreements with third-party hosts, settled either directly at the mining-pool level or via monthly invoices covering power, management fees, and profit-share components. Reported production and hashrate reflect output credited to Olenox's pool accounts prior to deduction of hosting costs, which will be finalized in future reports.
3. Seasonal Operations Outlook
Olenox implemented planned summer curtailment and low-power-mode operations at its Texas hosting site to mitigate heat-related hardware risk and optimize power use with grid conditions. This approach is expected to reduce hashrate and Bitcoin production temporarily in exchange for improved fleet longevity, reduced downtime, and disciplined power consumption during high-heat months.
4. Acquisition and Forward Strategy
On May 28, 2026, Olenox completed the $30 million acquisition of CS Digital, funded with $14 million in Series D preferred stock and a $16 million unsecured promissory note, plus warrants for 1.5 million common shares. The combined platform targets sub-$0.02/kWh power costs by converting Olenox’s natural gas into compute at the point of generation and will provide monthly production updates.




