Olenox Industries Shares Rise Monday as July Bitcoin Production Hits 15.13 Coins, Planned Acquisition Gains Natural Gas Resources

Olenox Industries Inc. shares rose in premarket trading Monday, following a week of multiple company updates, including July 2026 bitcoin production data and a planned $20 million acquisition.

Bitcoin Mining Operations Expansion

Olenox produced approximately 15.13 bitcoin in July, with an average realized operational hash rate of approximately 1.02 EH/s.

The realized hash rate reached approximately 64% of the mining fleet's economic capacity. Olenox attributed this to planned summer load reduction, low-power mode operations, and normal equipment availability.

The mining fleet includes 9,584 S21-class ASIC miners. Its installed capacity is approximately 35 MW, with a nominal capacity of 2.19 EH/s.

July production came from third-party hosted facilities powered by the ERCOT grid. Therefore, these results do not yet reflect Olenox's plan to convert natural gas into computing power at the power source. The company targets electricity costs below 2 cents per kilowatt-hour.

Olenox Reaches $20 Million Acquisition Agreement

Olenox also announced Wednesday that it has signed a non-binding letter of intent with Wildboy Holdings Ltd. and IPD Industries Inc. to acquire both companies for approximately $20 million.

The proposed transaction would be paid primarily in Olenox preferred stock, supplemented by common stock and cash. The deal would provide Olenox with additional natural gas resources, power generation opportunities, and infrastructure for data centers and other high-energy-use applications.

Wildboy's assets include a natural gas processing plant with a daily capacity of 144 MMcf, along with interests related to over 180,000 acres of land in northern British Columbia. Existing wells can supply up to 18 MMcf of natural gas per day, potentially supporting approximately 90 MW of gas-fired power generation.

IPD holds interests in over 5,000 acres of land near the Waha Hub in Texas. Its portfolio includes natural gas arrangements and projects involving power infrastructure, substations, water supply infrastructure, and on-site power generation.

Both companies target closing by October 31. However, the proposed acquisition remains subject to due diligence, final agreements, and necessary corporate, shareholder, Nasdaq, regulatory, and third-party approvals.

OLOX Stock Price

OLOX stock performance: Olenox Industries shares rose 11% in premarket trading Monday to $2.32.