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Noticias de OLOX
Eventos de OLOX
Olenox Industries Converts $750K Debt and $4.5M Preferred Stock
Olenox Industries announced that more than $750,000 of outstanding debt and approximately $4.5M in stated value of Series C Preferred Stock have been converted into shares of the Company's common stock since June, strengthening the Company's balance sheet and capital structure. The debt conversions reduced outstanding indebtedness by more than $750,000, while the conversion of approximately $4.5M of Series C Preferred Stock into common shares further simplifies the Company's capital structure and reduces its outstanding preferred equity.
Olenox Industries Launches Multi-Well Oil and Gas Development Program
Olenox Industries announced that it is moving its previously announced multi-well oil and natural gas development program into the field-execution phase through the engagement of a seismic services firm and the addition of geological and engineering expertise to oversee the initiative. Seismic fieldwork across the Company's North Texas acreage is expected to begin the week of September 7, and take approximately two to three weeks to complete. The resulting subsurface data will help Olenox evaluate 10 potential drill sites and determine which locations should be prioritized for future development. Based on the seismic findings, the identified sites could potentially support the drilling of as many as 10 wells over time. The Company does not anticipate completing all potential wells during the current year. The number, location and timing of wells ultimately drilled will be determined following the collection, analysis and interpretation of the seismic data, as well as consideration of permitting, financing, commodity prices and other operational and market conditions.
Olenox to Transform in 2026, Acquires CS Digital Ventures
Olenox Industries issued the following letter to shareholders from Chairman and Chief Executive Officer Michael McLaren. "2026 is shaping up to be a transformational year for Olenox. Over the past several months, we have taken significant steps toward building a differentiated, vertically integrated platform connecting energy production, behind-the-meter power, digital infrastructure, high-density computing and applied artificial intelligence... We believe the progress made this year reflects more than growth in the size of our business... Following the acquisition of CS Digital Ventures in May 2026, its operations produced an average of approximately 17 bitcoin per month during June and July 2026, representing an average gross value of approximately $72,000 per bitcoin... We are also continuing due diligence relating to our recently announced non-binding letter of intent involving the proposed acquisition of Wildboy Holdings, Ltd. and IPD Industries, Inc. We have engaged an independent engineering firm to evaluate certain assets and provide an assessment of their condition and value. We currently expect that work to be completed in the coming weeks, although the timing and outcome of the evaluation remain subject to change... Over the coming year, Olenox intends to continue integrating its recently acquired capabilities, advance its applied-intelligence platform across appropriate operating sites and evaluate opportunities to expand off-grid and behind-the-meter computing capacity. We also intend to develop our existing energy properties and pursue selected drilling and completion activity, subject to available capital, technical results, commodity prices, permitting and operating conditions... Olenox enters the remainder of 2026 with greater capabilities, a broader opportunity set and a clearly defined strategy. We are energized by the progress made this year and focused on translating that momentum into disciplined execution and lasting shareholder value."
Olenox Reports July Bitcoin Production of Approximately 15.13 BTC
July 2026 Production Highlights: Bitcoin mined: approximately 15.13 BTC credited to the Company's mining pool accounts during July 1-31, 2026. Average operational hashrate: approximately 1.02 EH/s realized across the Company's mining pool accounts during the period. Fleet utilization: realized hashrate represented approximately 64% 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 miners representing approximately 35 MW of installed capacity at a blended hardware efficiency of approximately 16 J/TH. "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."
Olenox Proposes $20M Acquisition of Wildboy Holdings and IPD Industries
Olenox Industries entered into a non-binding letter of intent with Wildboy Industries and Odin International regarding the proposed acquisition of 100% of the issued and outstanding capital stock of Wildboy Holdings and IPD Industries. Wildboy Holdings is a wholly owned subsidiary of Wildboy Industries and IPD Industries is a wholly owned subsidiary of Odin International. The proposed transaction would be completed by Olenox or a wholly owned acquisition subsidiary. Through the proposed transaction, Olenox is seeking to expand its access to natural gas resources, power-generation opportunities and infrastructure-development capabilities. If completed, the acquisition is expected to support Olenox's strategy of connecting energy resources with power-intensive applications, including data-center and next-generation computing operations. Based on information provided by Wildboy and subject to Olenox's due diligence, the Wildboy assets include a natural gas plant with stated processing capacity of up to 144 MMcf per day and interests associated with more than 180,000 acres in northern British Columbia. Wildboy has represented that existing wells could provide access to up to approximately 18 MMcf per day of natural gas, which management estimates could support approximately 90 MW of gas-fired generation, subject to generation efficiency, infrastructure availability, permitting, operating conditions and other factors. The assets are also located in a region with additional natural gas resources that may lack sufficient access to downstream markets, potentially creating opportunities for future aggregation, processing and power generation. Based on information provided by the sellers and subject to due diligence, IPD has developed commercial relationships and project interests in the vicinity of the Waha Hub outside Pecos, Texas, within the Delaware Basin's Wolfbone trend area. According to the sellers, IPD's portfolio includes interests associated with more than 5,000 acres, natural-gas arrangements and development work involving electric infrastructure, substations, water infrastructure, on-site generation and merchant-power capabilities. The proposed acquisition is expected to include IPD's intellectual property and contractual rights, subject to applicable assignment provisions, third-party consents and the terms of definitive agreements. Under the non-binding LOI, Olenox proposes to acquire 100% of Wildboy Holdings and IPD for an aggregate stated purchase price of approximately $20M, consisting primarily of Olenox preferred stock, together with common stock and cash consideration. The parties intend to proceed promptly with due diligence and the negotiation of definitive agreements and are targeting a closing on or before October 31.
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