Olenox Industries (NASDAQ: OLOX), a vertically integrated U.S. energy company, reported preliminary June Bitcoin production of approximately 14.92 BTC from the operations of CS Digital Ventures, with an average operational hashrate of approximately 1.06 EH/s. The company said fleet utilization was approximately 67% of economic capacity during the month as elevated temperatures increased low-power-mode operation and curtailment events at its Texas hosting site.
The month-over-month decline in production was driven by seasonal operating conditions, including more frequent curtailments and expanded low-power-mode operation to protect mining equipment during periods of high ambient heat. The company expects fleet utilization and Bitcoin production to remain sensitive to summer temperatures before improving as conditions moderate later in the year.
Olenox continues to advance its strategy of converting natural gas into compute at the point of generation. This approach aligns with the company's broader focus on integrating energy production with digital asset mining to optimize value from natural resources.
The company noted that the decrease in production is a temporary response to environmental factors, with expectations of recovery as temperatures cool. Investors can find the full press release at https://nnw.fm/AG6WQ.
Olenox Industries Inc. (NASDAQ:OLOX) is a vertically integrated energy company operating across multiple business lines, including oil and gas, energy services, and energy technologies. The Company is focused on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets.
For more information, visit the company’s newsroom at https://nnw.fm/OLOX.
