Texas summer heat kept Olenox’s Bitcoin fleet at 64% of capacity in July

Olenox Industries Reports July 2026 Bitcoin Production, Its second Monthly Operating Update Following the Closing of the CS Digital Acquisition

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cryptoacquisition

Rhea-AI Summary

Olenox Industries (NASDAQ:OLOX) reported preliminary, unaudited July 2026 Bitcoin production from CS Digital Ventures, its recently acquired mining platform. For July 1–31, approximately 15.13 BTC were credited to Olenox’s mining pool accounts, based on an average operational hashrate of about 1.02 EH/s.

Realized hashrate represented roughly 64% of the fleet’s economic capacity, reflecting planned summer curtailment, low-power-mode operation and normal equipment availability. The installed fleet comprised 9,584 S21-class ASIC miners, representing around 35 MW of capacity and about 2.19 EH/s nameplate hashrate at roughly 16 J/TH efficiency.

Current production was generated at third-party hosting facilities on the ERCOT grid under profit-share arrangements. Olenox highlighted a forward strategy to convert its low-cost natural gas into compute at the point of generation, targeting power costs below $0.02 per kWh, which is not yet reflected in these results.

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Positive

• July 2026 production of approximately 15.13 BTC credited to pool accounts
• Average operational hashrate around 1.02 EH/s during July 1–31, 2026
• Installed fleet of 9,584 S21-class miners with about 2.19 EH/s nameplate
• Power cost target below $0.02 per kWh in forward gas-to-compute strategy

Negative

• Fleet utilization at about 64% of economic capacity due to summer curtailment and low-power mode
• Hosting costs for invoiced portion of fleet not yet finalized for July period
• Current results do not yet benefit from planned on-site gas-to-compute power strategy

July’s 15.13 BTC is preliminary pool-account output; for part of the fleet, hosting costs remain outside that figure pending invoicing.

On its second post-closing update, Olenox reports July production from CS Digital, acquired on May 28, 2026
; mining is currently at third-party ERCOT facilities, and part of the reported output precedes separate hosting-cost settlement.

Under the disclosed profit-share structure, hosts receive mining-related value instead of only a fixed hosting fee; most arrangements deduct the host share at pool level, while another invoices the company separately for power, management and profit share.

Although the release calls the figure Bitcoin mined, for the invoiced portion it represents full machine output credited to Olenox’s pool accounts before related hosting costs are deducted and recognized as operating expense.

These figures are preliminary and unaudited, subject to final operational and financial review; the release says the monthly hosting invoices for the invoiced fleet portion were not finalized.

Against the tag-specific history’s 3.22% 24-hour gain, this update provided a second operating datapoint for the acquired mining platform. Preliminary results and unfinalized hosting invoices were risks; future reports may clarify retained economics.

Bitcoin mined15.13 BTCJuly 1-31, 2026; preliminary production
Average operational hashrate1.02 EH/sJuly 2026 mining pool accounts
Fleet utilization64%July 2026 economic capacity
Installed fleet9,584 ASIC minersCurrent-generation S21-class miners
Installed capacity35 MWCurrent installed fleet
Nameplate hashrate2.19 EH/sInstalled fleet capacity
Hardware efficiency16 J/THBlended installed-fleet efficiency
Targeted power costsub-$0.02 per kWhForward natural-gas-to-compute strategy; not current-period results

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

The tag-specific record contains one positive production update followed by a 3.22% 24-hour gain.

asic minerstechnical
“Installed fleet: 9,584 current-generation S21-class ASIC miners”
ASIC miners are specialized devices designed to perform the complex calculations needed to verify and add transactions to a blockchain, such as Bitcoin. Unlike general computers, they are built specifically for this task, making them much faster and more efficient. For investors, ASIC miners are important because they determine how easily and profitably new coins can be created and transactions processed within the network.
hashratetechnical
“Average operational hashrate: approximately 1.02 EH/s realized”
Hashrate is a measure of how quickly a computer network can process and verify transactions, often expressed as the number of calculations it can perform in a second. Think of it like the engine power of a car; the higher the hashrate, the more work the network can do in a given time. For investors, a higher hashrate generally indicates a more secure and robust network, which can influence confidence and the value of related digital assets.
low-power modetechnical
“For the summer, the Company has elected to operate the fleet in a low-power mode”
A device or software setting that cuts energy use by limiting performance and nonessential functions, like dimming displays, pausing background apps, or slowing processors—similar to putting a car into “eco” mode. It matters to investors because low-power modes affect battery life, user satisfaction, product competitiveness, operating costs for connected devices, and service uptime, all of which can influence sales, support costs, and long-term product value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Second post-closing operating disclosure from the newly combined, energy-led digital infrastructure platform. Current production is generated at third-party hosting facilities on the ERCOT grid; converting Olenox’s low-cost natural gas into compute at the point of generation, targeting power costs below $0.02
per kWh, is the platform’s forward strategy.

CONROE, TX / ACCESS Newswire / August 20, 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 July 2026 from the operations of CS Digital Ventures, LLC (“CS Digital”), which the Company acquired on May 28, 2026. This is the Company’s second monthly operating update as a combined, energy-led digital infrastructure platform.

July 2026 Production Highlights

• Bitcoin mined:approximately15.13 BTCcredited to the Company’s mining pool accounts during July 1-31, 2026.

• Average operational hashrate:approximately1.02 EH/srealized across the Company’s mining pool accounts during the period.

• Fleet utilization:realized hashrate represented approximately64%of the fleet’s economic capacity during the period, reflecting planned summer curtailment, low-power-mode operation and normal equipment availability.

• Installed fleet: 9,584 current-generation S21-class ASIC minersrepresenting approximately35 MWof installed capacity (approximately 2.19 EH/s nameplate) at a blended hardware efficiency of approximately16 J/TH.

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 July production reported herein was generated at third-party hosting facilities drawing power from the ERCOT grid. The Company’s strategy of converting Olenox’s natural gas into compute at the point of generation, including the targeted sub-$0.02
per kWh power cost, describes the combined platform’s forward plan and is not reflected in the current period’s results.

The Company expects to provide monthly production updates in the early part of each month, consistent with industry practice among Bitcoin mining operators.

The majority of the Company’s mining fleet operates at third-party hosting facilities under profit-share arrangements, whereby the hosting provider is compensated through a share of mining-related value rather than solely through a fixed hosting fee. These arrangements are settled through two different mechanisms. Under most of them, 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

July production reflects deliberate, weather-driven curtailment at the Company’s Texas hosting site. 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 the period was below the fleet’s nameplate capacity.

For the summer, the Company has elected to operate the fleet in a low-power mode (LPM) to preserve hardware during the hottest months, reverting to normal operation once the high-heat season ends. Internal testing indicates 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 this approach to result in temporarily lower hashrate and Bitcoin production during the summer months, in exchange for improved fleet longevity, reduced downtime, and disciplined power consumption. Monthly production is expected to vary with seasonal temperatures, curtailment and network conditions.

“July is our second month of reporting Bitcoin production as a combined platform,” said Mike McLaren, Chairman and Chief Executive Officer of Olenox. “We intend to continue reporting production on a monthly basis as we bring Olenox’s energy assets and CS Digital’s operating capability together.”

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.

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; expected benefits of the completed transaction between Olenox Industries Inc. and CS Digital Ventures, LLC; the Series D Preferred Stock, the Seller Note, the Warrants and any additional Series D Preferred Stock issuable upon achievement of post-closing milestones; the receipt of stockholder approval permitting conversion of the Series D Preferred Stock and exercise of the Warrants into common stock; 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; the ability to integrate CS Digital’s operations; the ability to service the Seller Note; the ability to obtain stockholder approval under applicable Nasdaq listing rules; the ability to achieve the milestones underlying the post-closing earnout; 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.

Rona Menashe
Guttman Associates PR
Rona@GuttmanPR.com

SOURCE:Olenox Industries Inc.

View the original press release on ACCESS Newswire

How much Bitcoin did Olenox Industries (OLOX) mine in July 2026?

Olenox Industries mined approximately 15.13 BTC in July 2026. According to the company, this figure reflects Bitcoin credited to its mining pool accounts between July 1 and July 31, net of mining pool fees and before certain hosting profit-share costs.

What was Olenox (NASDAQ:OLOX) average hashrate and fleet utilization in July 2026?

Olenox reported an average operational hashrate of about 1.02 EH/s in July 2026. According to the company, realized hashrate represented roughly 64% of the fleet’s economic capacity, influenced by planned summer curtailment, low-power-mode operation and normal equipment availability.

How large is Olenox Industries’ Bitcoin mining fleet after the CS Digital acquisition?

Olenox operates 9,584 current-generation S21-class ASIC miners following the CS Digital acquisition. According to the company, this fleet represents about 35 MW of installed capacity, roughly 2.19 EH/s nameplate hashrate and a blended hardware efficiency near 16 J/TH.

Why was Olenox Industries’ fleet utilization only about 64% in July 2026?

Fleet utilization was about 64% because Olenox deliberately curtailed or reduced operations during high heat in Texas. According to the company, it also operated in low-power mode to protect hardware, aligning power use with ERCOT grid and seasonal pricing conditions.

What is Olenox Industries’ targeted power cost for its Bitcoin mining operations?

Olenox is targeting power costs below $0.02 per kWh under its forward strategy. According to the company, it plans to convert its low-cost natural gas into compute at the point of generation, though this approach is not yet reflected in current production results.

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