Olenox Industries Mines 18.6 Bitcoin in First Monthly Update After CS Digital Acquisition
Olenox Industries reported its first monthly operating update following the acquisition of CS Digital Ventures, announcing the mining of 18.6 bitcoin in May 2026 as part of its strategy to integrate natural gas assets with data center operations.
Olenox Industries (NASDAQ: OLOX) has released its first monthly operating update following the acquisition of CS Digital Ventures, reporting the production of approximately 18.6 bitcoin during May 2026. The company also disclosed an average operational hashrate of approximately 1.30 EH/s, marking a significant milestone in its expansion into cryptocurrency mining.
The update, which can be viewed in full at https://ibn.fm/XrzkI, reveals that Olenox's mining fleet consists of 9,584 current-generation S21-class ASIC miners. These represent approximately 35 MW of installed capacity and 2.19 EH/s of nameplate hashrate. Operations are currently conducted through third-party hosting facilities drawing power from the ERCOT grid in Texas.
May production reflected planned summer curtailment and low-power-mode operations designed to protect equipment during periods of high heat in Texas. This proactive approach to equipment maintenance underscores the operational challenges of mining in hot climates and the company's commitment to asset longevity.
The acquisition of CS Digital Ventures, completed on May 28, 2026, is central to Olenox's long-term strategy. The company plans to combine its natural gas assets with CS Digital's data center operations to develop off-grid, gas-powered facilities. These facilities are targeting all-in power costs below $0.02 per kWh, which would provide a significant competitive advantage in the energy-intensive bitcoin mining industry.
Olenox Industries is a vertically integrated energy company operating across multiple business lines, including oil and gas, energy services, and energy technologies. The company focuses on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets. More information is available in the company's newsroom at https://ibn.fm/OLOX.
The implications of this announcement are significant for the cryptocurrency mining sector. By leveraging its natural gas assets, Olenox aims to reduce power costs, which constitute the largest operational expense for miners. If successful, this strategy could improve profitability and set a new standard for integrating energy production with digital asset mining. The move also highlights the growing trend of energy companies diversifying into cryptocurrency mining to monetize stranded or low-cost energy resources.
As Olenox continues to scale its operations and integrate the CS Digital acquisition, industry observers will be watching closely to see if the company can achieve its target power costs and replicate its success in other regions. The May production figures, despite curtailment, demonstrate the operational capacity of the combined entity and set the stage for future growth.