Olenox Industries Reports June 2026 Bitcoin Production
Rhea-AI Summary
Olenox Industries (NASDAQ:OLOX) reported preliminary, unaudited June 2026 Bitcoin production from CS Digital Ventures. The company mined approximately 14.92 BTC during June 1–30, with an average operational hashrate of about 1.06 EH/s, and fleet utilization around 67% of economic capacity.
The installed fleet remained at 9,584 S21-class ASIC miners, representing roughly 35 MW and 2.19 EH/s nameplate, with blended efficiency near 16 J/TH, unchanged from May. Lower output versus May was mainly driven by elevated Texas temperatures that increased low-power-mode operation and the frequency and duration of curtailment events at third-party ERCOT-hosted facilities.
Positive
- Installed fleet steady at 9,584 S21-class miners, ~35 MW and ~2.19 EH/s nameplate
- Hardware efficiency maintained at a blended ~16 J/TH versus May 2026
- Average realized hashrate of ~1.06 EH/s despite deliberate curtailment and low-power operation
Negative
- Bitcoin mined 14.92 BTC in June 2026, lower than May due to increased curtailment and low-power mode
- Fleet utilization materially below economic capacity, constrained by heat-driven curtailment at Texas hosting facilities
- Hosting profit-share costs and invoiced power, management fees, and profit share for part of the fleet will reduce economic output retained
News Explained
June's pool-credit figure is preliminary; separately invoiced hosting costs were not finalized, so reported output is not the final retained economics.
The
For most of the fleet, the host's share is settled directly at the mining-pool level; for another portion, all output is credited to Olenox's pool accounts and the host is paid separately by monthly invoice for power, management, and profit-share charges.
The release distinguishes the targeted sub-$0.02 per kWh gas-powered compute plan from current results: that plan is forward-looking and is not reflected in June's production.
The named resolution points are finalized monthly hosting invoices and the additional reporting detail Olenox says it expects in future updates.
News Market Reaction – OLOX
On the day this news was published, OLOX gained 2.94%, reflecting a moderate positive market reaction. Argus tracked a peak move of +8.4% during that session. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $216K to the company's valuation, bringing the market cap to $7.56M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 13 | PsyLinks acquisition | Positive | -4.4% | Closed $500,000 stock-for-stock acquisition of applied intelligence firm PsyLinks. |
| Jun 02 | Bitcoin update & deal | Positive | +3.2% | First post‑acquisition Bitcoin production update and details of CS Digital purchase. |
| May 28 | Nasdaq notice | Negative | +78.3% | Disclosed Nasdaq delinquency notice for late Form 10‑K filing and compliance deadline. |
| May 28 | CS Digital acquisition | Positive | +0.6% | Closed $30M CS Digital deal with added capacity and earn‑out, warrants package. |
| May 06 | Reverse stock split | Negative | -22.2% | 1‑for‑10 reverse split to regain Nasdaq minimum bid price compliance. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news shows a mix of aligned moves and sharp divergences, including a strong rally on a Nasdaq delinquency notice despite its negative implications.
Key Terms
hashrate technical
low-power-mode technical
asic technical
ercot technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Second monthly operating update from the newly combined, energy-led digital infrastructure platform. Elevated summer temperatures drove increased low-power-mode operation and a higher frequency of curtailment events at the Company's Texas hosting site, reducing fleet utilization and Bitcoin output relative to May.
CONROE, TX / ACCESS Newswire / July 16, 2026 / Olenox Industries Inc. (NASDAQ:OLOX) ("Olenox" or the "Company"), a vertically integrated U.S. energy company, today reported Bitcoin production for the month of June 2026 from the operations of CS Digital Ventures, LLC ("CS Digital"). This is the Company's second monthly operating update as a combined, energy-led digital infrastructure platform, following the update for May 2026.
June 2026 Production Highlights
Bitcoin mined: approximately 14.92 BTC credited to the Company's mining pool accounts during June 1-30, 2026.
Average operational hashrate: approximately 1.06 EH/s realized across the Company's mining pool accounts during the period.
Fleet utilization: realized hashrate represented approximately
67% of the fleet's economic capacity during the period, reflecting a greater number and duration of curtailment events and increased low-power-mode operation in response to elevated ambient temperatures.Installed fleet: 9,584 current-generation S21-class ASIC miners representing approximately 35 MW of installed capacity (approximately 2.19 EH/s nameplate) at a blended hardware efficiency of approximately 16 J/TH, unchanged from May 2026.
Production figures are preliminary, unaudited, and subject to final operational and financial review. Reported production reflects Bitcoin credited to the Company's pool accounts, before settlement of hosting profit-share amounts described below, and is shown net of mining-pool fees.
The June production reported herein was generated at the same third-party hosting facilities drawing power from the ERCOT grid described in the Company's May 2026 update. The Company's strategy of converting Olenox's natural gas into compute at the point of generation, including the targeted sub-
The Company expects to provide monthly production updates in the early part of each month, consistent with industry practice among Bitcoin mining operators.
Drivers of the Month-over-Month Decline
Bitcoin production and average hashrate declined in June 2026 relative to May 2026, driven primarily by two related, temperature-linked operating factors at the Company's Texas hosting site:
Increased low-power-mode (LPM) operation: sustained high ambient temperatures during June required the fleet to spend a greater share of operating hours in LPM than in May, in order to protect hardware from heat-related stress. As LPM reduces power draw and hashrate in tandem to preserve equipment, the increased reliance on LPM directly reduced average realized hashrate for the period.
A higher number of curtailment events: the Company curtailed operations more frequently and for longer aggregate duration in June than in May, consistent with its standard practice of reducing or suspending mining during periods of peak ambient heat and adverse grid or pricing conditions. The combination of more frequent curtailment and expanded LPM usage resulted in fleet utilization of approximately
70% of economic capacity in June, compared with approximately81% in May.
The decline in Bitcoin mined was somewhat larger, in percentage terms, than the decline in average hashrate, consistent with prevailing Bitcoin network difficulty conditions during the period. The Company expects fleet utilization and monthly Bitcoin production to remain sensitive to ambient temperature through the remainder of the summer season, before improving as the Company transitions the fleet back to normal operating mode once high-heat conditions subside.
Profit-Share Arrangement
The majority of the Company's mining fleet continues to operate at third-party hosting facilities under the profit-share arrangements described in the Company's May 2026 update. Under most of these arrangements, the hosting provider's share is settled directly at the mining-pool level, so that only the Company's share is credited to its pool accounts. Under another arrangement, covering a portion of the fleet, the full output of the relevant machines is credited to the Company's pool accounts and the hosting provider is instead compensated separately through a monthly invoice covering power, a management fee and a profit-share component.
The production and hashrate figures reported above reflect Bitcoin and hashrate credited to the Company's pool accounts. For the portion of the fleet settled by monthly invoice, these figures are stated before deduction of the related hosting costs, which are recognized separately as an operating expense for the period and were not yet finalized as of the date of this release. Power costs are borne by the Company broadly in proportion to the economic output it retains. The Company intends to refine its production reporting methodology as invoicing for the period is finalized and expects to provide additional detail in future updates.
Seasonal Operations and Outlook
June production reflects deliberate, weather-driven curtailment and expanded low-power-mode operation at the Company's Texas hosting site, consistent with the seasonal approach described in the Company's prior update. During periods of high ambient heat, the Company curtails or reduces operations to protect the fleet - a standard practice for Texas-based mining operations during the summer season, and one that also aligns power use with grid and pricing conditions. As a result, realized hashrate during June was further below the fleet's nameplate capacity than in May.
The Company continues to operate the fleet in low-power mode (LPM) through the summer months to preserve hardware, reverting to normal operation once the high-heat season ends. Internal testing continues to indicate that LPM maintains miner efficiency - reducing power consumption broadly in proportion to the reduction in hashrate - while meaningfully lowering the risk of heat-related hardware failures. The Company expects fleet utilization to remain compressed in the near term as a result of this approach, in exchange for improved fleet longevity, reduced downtime, and disciplined power consumption. Monthly production is expected to continue to vary with seasonal temperatures, curtailment and network conditions, with improvement anticipated as ambient temperatures moderate later in the year.
Management Commentary
"June's results reflect the seasonal reality of operating in Texas during peak summer heat - we intentionally traded short-term hashrate for fleet protection, and that discipline is exactly what this platform is built on," said Michael McLaren, Chief Executive Officer of Olenox. "The increase in curtailment and low-power-mode operation this month was a deliberate operating choice, not a setback. As temperatures moderate, we expect utilization to recover, and our focus remains on advancing the transition to on-site, gas-powered compute where we are not exposed to grid conditions in the same way."
"A lower production month driven by heat-related curtailment is an expected part of operating a Texas-based fleet through the summer, and it does not change our view of the combined platform's trajectory," said Mike McLaren, Chairman and Chief Executive Officer of Olenox. "We remain focused on bringing Olenox's energy assets and CS Digital's operating capability together, and on keeping the market informed as we do."
About Olenox Industries Inc.
Olenox Industries Inc. (NASDAQ:OLOX) is a vertically integrated U.S. energy company operating across multiple business lines, including oil and gas, energy services and energy technologies, including the proprietary Olenox process. The Company is focused on acquiring, optimizing and scaling energy-related infrastructure and operating assets across key U.S. markets, with a strategic focus on bringing low-cost natural gas to high-value end uses, including digital infrastructure and next-generation compute.
About CS Digital Ventures, LLC
CS Digital Ventures, LLC is a digital infrastructure company focused on the development and operation of energy-intensive data centers, including high-density and AI-oriented compute deployments. CS Digital was co-founded by Bernardo Schucman, tech investor Shanti Cillo, Chief Technology Officer Roberto Santacroce and Chief Financial Officer Federico Sader. The company is led by a team with extensive experience in high-density compute fleet operations, energy-intensive data center deployment, power sourcing and institutional-scale execution.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable U.S. federal securities laws. Forward-looking statements include, without limitation, statements regarding monthly Bitcoin production and the expectation of providing future monthly updates; anticipated recovery in fleet utilization as ambient temperatures moderate; the development and scaling of off-grid, gas-powered digital infrastructure; targeted power costs; and the future business, operations and financial performance of the combined company. These statements are based on current expectations and assumptions and are subject to risks, uncertainties and other factors, many outside the Company's control, that could cause actual results to differ materially, including, among others, volatility in Bitcoin price and network difficulty; weather and grid conditions in Texas; the ability to integrate CS Digital's operations; volatility in commodity prices, including natural gas and electricity; the availability and terms of hosting arrangements; regulatory developments; and the other risks described in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statement except as required by law.
Investor and Media Contacts
Olenox Industries Inc. | Investor Relations
investors@olenox.com
SOURCE: Olenox Industries Inc.
View the original press release on ACCESS Newswire