Olenox Unveils Three-Phase Plan to Power and Expand Bitcoin Mining Fleet Through Gas-To-Power-To-Compute Strategy
Key Highlights
- ➤Olenox targets doubling Bitcoin-mining fleet from approximately 9,700 to 20,000 miners
- ➤Targeted electricity rate $0.015/kWh versus current $0.06/kWh, a potential 75% reduction
- ➤Company must add generators to reach contemplated mining capacity of 75 MW
- ➤Expansion depends on substantial financing, power availability, equipment procurement and execution
Expert Statements
Mike McLaren, Chairman and Chief Executive Officer of Olenox
“Our strategy has been to bring energy resources, power generation and computing together within Olenox. This plan outlines how we intend to put those capabilities to work.”
Mike McLaren, Chairman and Chief Executive Officer of Olenox
“Our first priority is to establish lower-cost power, then potentially relocate existing miners to that power supply and look to build on that foundation to expand the fleet. That connection between our energy business and our computing operations is central to the long-term value we are working to create.”
CONROE, TX / ACCESS Newswire / October 22, 2026 / Olenox Industries Inc. (NASDAQ:OLOX) ("Olenox" or the "Company"), an integrated energy and infrastructure company, today outlined the next planned phase of its gas-to-power-to-compute strategy: establishing lower-cost electricity, potentially relocating existing Bitcoin miners to that power supply and looking at opportunities to expand its mining fleet.
Olenox is targeting an expansion from approximately 9,700 to 20,000 miners -- more than doubling its fleet -- supported by its strategy to develop lower-cost, self-generated power. Expansion remains subject to its ability to raise substantial financing, power availability, equipment procurement and project execution.
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