Olenox targets Bitcoin mining fleet expansion to 20,000 machines
OLOX•Olenox Industries outlined a three-phase plan to expand its Bitcoin mining fleet from about 9,700 to 20,000 machines. It targets self-generated electricity at about $0.015 per kWh, compared with about $0.06 currently, but execution depends on financing, power availability and equipment procurement.
1. Expansion plan
Olenox Industries outlined a three-phase gas-to-power-to-compute plan targeting growth in its Bitcoin mining fleet from approximately 9,700 to 20,000 machines. The first phase targets self-generated electricity at approximately $0.015 per kWh, compared with approximately $0.06 per kWh currently.
2. Potential sites and conditions
The company could relocate existing Texas miners to lower-cost power sites, targeting a 75% reduction in electricity rates before expanding the fleet. Potential deployment sites include British Columbia’s Wildboy platform and Texas’ Pecos-area platform; planned generation capacity would require expansion to 75 MW. Execution depends on substantial financing, power availability and equipment procurement, and the electricity-rate and fleet goals remain targets.
