OLOX OLENOX INDUSTRIES INC.
Price Chart
Executive Summary
Olenox Industries filed an 8-K furnishing its first monthly Bitcoin production update following the May 28, 2026 acquisition of CS Digital Ventures. May production was approximately 18.6 BTC at an average hashrate of 1.30 EH/s (81% utilization), with deliberate summer curtailment expected to reduce near-term output. The filing also recaps the $30M upfront acquisition consideration ($14M Series D Preferred + $16M promissory note) and up to $20M in earnout preferred stock, plus warrants for 1.5M common shares.
Actionable Insight
This is a baseline operational update post-acquisition; no financial guidance or comparable period data is provided. Monitor future monthly production reports for trends in hashrate, BTC output, and progress toward the sub-$0.02/kWh power cost target. The warrants and preferred stock conversion require stockholder approval — watch for proxy filings.
Key Facts
- Bitcoin mined in May 2026: approximately 18.6 BTC
- Average operational hashrate: approximately 1.30 EH/s (81% of economic capacity)
- Installed fleet: 9,584 S21-class ASIC miners, ~35 MW capacity (~2.19 EH/s nameplate)
- CS Digital acquisition closed May 28, 2026 for $30M upfront ($14M Series D Preferred + $16M promissory note)
- Earnout: up to $20M additional Series D Preferred on cumulative revenue/EBITDA milestones
- Warrants: 1.5M shares in three tranches at $5, $7, $9 per share (not exercisable without stockholder approval)
- CS Digital contributed 2025 revenue of $20.6M and 2025 EBITDA of $6.2M
- Summer low-power mode expected to reduce hashrate and production temporarily
Financial Impact
No revenue or earnings reported for the combined entity. CS Digital's standalone 2025 revenue was $20.6M and EBITDA $6.2M. Acquisition consideration totals $30M upfront plus up to $20M earnout.
Risk Factors
- Summer curtailment and low-power mode will reduce near-term Bitcoin production
- Warrant overhang (1.5M shares) and potential Series D conversion create future dilution risk
- Integration of CS Digital operations and servicing the $16M promissory note add financial leverage
- Bitcoin price and network difficulty volatility directly impact mining economics
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-063809 |
| Document: ea029307301ex99-1.htm | 0001213900-26-063809 |
| Document: 0001213900-26-063809-index-headers.html | 0001213900-26-063809 |
| Document: 0001213900-26-063809-index.html | 0001213900-26-063809 |
| Document: 0001213900-26-063809.txt | 0001213900-26-063809 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
4d ago
|
8-K
| $7.30 awaiting T+1 | awaiting T+1 | — | $6.46 (+11.51%) |
|
Jun 2, 2026
12d ago
|
8-K
| $9.93 $8.42 | ▼ −15.21% | ▼ −14.51% | $6.46 (−34.94%) |
|
May 28, 2026
17d ago
|
8-K
| $4.92 $8.77 | ▲ +78.25% | ▲ +78.01% | $6.46 (+31.30%) |
|
Apr 2, 2026
10w ago
|
8-K
| $7.20 $0.7000 | ▼ −90.28% | ▼ −90.75% | $6.46 (−10.28%) |
|
Mar 13, 2026
13w ago
|
8-K
| $12.00 $1.14 | ▼ −90.50% | ▼ −91.52% | $6.46 (−46.17%) |
|
Mar 4, 2026
14w ago
|
Press Release
| $9.00 $1.15 | ▼ −87.22% | ▼ −86.65% | $6.46 (−28.22%) |
|
Mar 3, 2026
14w ago
|
Press Release
| $9.42 $0.9000 | ▼ −90.45% | ▼ −91.21% | $6.46 (−31.42%) |
US Market Status
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