Olenox Industries (NASDAQ: OLOX) 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 vertically integrated U.S. energy 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, while continuing to advance its strategy of converting natural gas into compute at the point of generation.
Olenox Industries 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, view the full press release at https://nnw.fm/AG6WQ.
