Olenox Industries (NASDAQ: OLOX) has released its first monthly operating update following its acquisition of CS Digital Ventures, reporting the production of approximately 18.6 bitcoin during May 2026. The company, which completed the acquisition on May 28, 2026, also disclosed an average operational hashrate of roughly 1.30 EH/s for the month.
The mining fleet currently comprises 9,584 current-generation S21-class ASIC miners, representing about 35 MW of installed capacity and a nameplate hashrate of 2.19 EH/s. Operations are conducted through third-party hosting facilities that draw power from the ERCOT grid, the Texas power network. The company noted that May production reflected planned summer curtailment and low-power-mode operations designed to protect equipment during periods of high heat in Texas, a common challenge for Bitcoin miners in the region.
The significance of this update lies in Olenox’s long-term strategy to integrate its natural gas assets with CS Digital’s data center operations. The company aims to develop off-grid, gas-powered facilities that target all-in power costs below $0.02 per kWh. This approach could provide a competitive advantage in the energy-intensive Bitcoin mining industry, where electricity costs are a major factor in profitability.
Olenox Industries is a vertically integrated energy company operating across oil and gas, energy services, and energy technologies. The acquisition of CS Digital Ventures marks a strategic move into Bitcoin mining, leveraging the company’s existing energy infrastructure to potentially lower operational costs and enhance revenue streams. The ability to generate power from natural gas assets could insulate the mining operations from grid price volatility and regulatory pressures.
For investors, the monthly production figures offer a tangible metric to assess the progress of the integration and the efficiency of the mining operations. The company’s focus on using current-generation ASIC miners and low-power modes during peak heat suggests a disciplined approach to equipment management and cost control.
More details are available in the full press release at https://ibn.fm/XrzkI. The latest news and updates relating to OLOX can be found in the company’s newsroom at https://ibn.fm/OLOX.
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