Olenox Industries Reports May Bitcoin Production of Approximately 18.6 BTC
Olenox Industries reported Bitcoin production for the month of May 2026 from the operations of CS Digital Ventures, which the Company acquired on May 28, 2026. This is the Company's first monthly operating update as a combined, energy-led digital infrastructure platform. May 2026 Production Highlights: Bitcoin mined: approximately 18.6 BTC credited to the Company's mining pool accounts during May 1-31, 2026. Average operational hashrate: approximately 1.30 EH/s realized across the Company's mining pool accounts during the period. Fleet utilization: realized hashrate represented approximately 81% of the fleet's economic capacity during the period, reflecting planned summer curtailment, low-power-mode operation and normal equipment availability. Installed fleet: 9,584 current-generation S21-class ASIC miners representing approximately 35 MW of installed capacity at a blended hardware efficiency of approximately 16 J/TH. The May production reported herein was generated at third-party hosting facilities drawing power from the ERCOT grid. The Company's strategy of converting Olenox's natural gas into compute at the point of generation, including the targeted sub-$0.02 per kWh power cost, describes the combined platform's forward plan and is not reflected in the current period's results. The company said, "The majority of the Company's mining fleet operates at third-party hosting facilities under profit-share arrangements, whereby the hosting provider is compensated through a share of mining-related value rather than solely through a fixed hosting fee. These arrangements are settled through two different mechanisms. Under most of them, the hosting provider's share is settled directly at the mining-pool level, so that only the Company's share is credited to its pool accounts. Under another arrangement, covering a portion of the fleet, the full output of the relevant machines is credited to the Company's pool accounts and the hosting provider is instead compensated separately through a monthly invoice covering power, a management fee and a profit-share component. The production and hashrate figures reported above reflect Bitcoin and hashrate credited to the Company's pool accounts. For the portion of the fleet settled by monthly invoice, these figures are stated before deduction of the related hosting costs, which are recognized separately as an operating expense for the period and were not yet finalized as of the date of this release. Power costs are borne by the Company broadly in proportion to the economic output it retains. The Company intends to refine its production reporting methodology as invoicing for the period is finalized and expects to provide additional detail in future updates. May production reflects deliberate, weather-driven curtailment at the Company's Texas hosting site. During periods of high ambient heat, the Company curtails or reduces operations to protect the fleet - a standard practice for Texas-based mining operations during the summer season, and one that also aligns power use with grid and pricing conditions. As a result, realized hashrate during the period was below the fleet's nameplate capacity. For the summer, the Company has elected to operate the fleet in a low-power mode to preserve hardware during the hottest months, reverting to normal operation once the high-heat season ends. Internal testing indicates that LPM maintains miner efficiency - reducing power consumption broadly in proportion to the reduction in hashrate - while meaningfully lowering the risk of heat-related hardware failures. The Company expects this approach to result in temporarily lower hashrate and Bitcoin production during the summer months, in exchange for improved fleet longevity, reduced downtime, and disciplined power consumption."
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Olenox Industries to Implement 1-for-10 Reverse Stock Split
- Reverse Stock Split Announcement: Olenox Industries has announced a 1-for-10 reverse stock split effective May 8, 2026, aimed at boosting its share price to meet the Nasdaq Capital Market's minimum bid requirement of $1.
- Impact on Outstanding Shares: Following the split, the number of outstanding shares will decrease from approximately 10.2 million to about 1.2 million, which, while reducing the share count, may impact the investment value for shareholders.
- Market Reaction: Following the announcement, OLOX shares fell 6% in premarket trading, reflecting market concerns about the company's future prospects and potentially affecting investor confidence.
- Regulatory Pressure: This move not only aims to comply with Nasdaq's minimum price requirement but also highlights the compliance pressures faced by the company, which could influence its future financing and market performance.
Olenox Initiates 2026 Drilling Program Amid Rising Oil Prices
- Drilling Program Launch: Olenox Industries Inc. has commenced its 2026 drilling program, planning to complete one well by the end of the current quarter, followed by three wells in each of the next three quarters, which is expected to significantly enhance the company's output and market competitiveness.
- Pipeline Recommissioning: The company has completed its survey of the 162-mile pipeline and is preparing the necessary paperwork to recommission and relicense it, with full functionality expected by the end of Q3 2026, thereby enhancing transportation capacity and operational efficiency.
- Daily Production Target: Olenox aims to achieve a target of 1,000 BOE per day by year-end, with CEO Michael McLaren stating that the company can leverage its stronger footing through new drills and acquisitions to solidify its market position.
- Positive Market Environment: With positive trends in oil prices, Olenox believes now is the optimal time to kick off its drilling program, which will not only boost production capacity but also lay a foundation for future growth.
Olenox Industries Selected for New Jersey Park Infrastructure Project
- Project Selection: Olenox Industries' subsidiary, Giant Containers, has been selected to provide design and construction services for critical infrastructure at New Jersey's newest state park, marking a significant expansion in the company's infrastructure capabilities.
- Greenway Development: The park aims to transform nearly one mile of the Newark segment into a nine-mile greenway connecting eight communities in Essex and Hudson counties, enhancing regional accessibility and environmental quality.
- Community Value Enhancement: Giant Containers will deliver foundational infrastructure and community-oriented amenities aimed at improving safety and long-term durability, thereby providing lasting environmental, economic, and community value across northern New Jersey.
- Sustainability Commitment: Olenox Industries focuses on infrastructure solutions that combine environmental responsibility with engineering expertise, driving the development of sustainable infrastructure to ensure equitable access to open spaces.
Giant Containers to Deliver Modular Solutions for Leading EV Company
- Project Engagement: Giant Containers has been retained by a leading electric vehicle company to design and deliver modular buildings across multiple U.S. locations, aimed at supporting the client's ongoing expansion to meet rising consumer demand and infrastructure needs.
- Design and Delivery: The project scope includes multiple custom steel modular buildings, with Giant Containers providing integrated design-build services to ensure consistency, speed to market, and alignment with sustainability standards across all sites.
- Infrastructure Demand: As EV adoption accelerates, the need for resilient, modular, and energy-efficient site solutions becomes critical, underscoring Giant Containers' position as a trusted partner for next-generation infrastructure, according to the CEO.
- Future Outlook: Work is expected to commence in the coming months, with phased delivery aligned to the client's national expansion schedule, as Giant Containers focuses on reducing construction timelines and supporting sustainable development objectives.
Olenox Settles Convertible Note with CEO McLaren
- Debt-to-Equity Conversion: Olenox CEO Michael McLaren has executed a settlement agreement to convert his convertible promissory note into common shares, fully settling the note's balance, which reflects the company's proactive approach to optimizing its capital structure.
- Preferred Share Exchange: Olenox also executed an agreement with McLaren to exchange 39,000 shares of Series A Preferred Shares for 585,000 restricted common shares, resolving all claims related to the preferred shares while enhancing shareholder value in the long term.
- Management Confidence: CFO Tricia Kaelin stated that this transaction conveys the CEO's commitment to the company and his vision for the future, further bolstering investor confidence in Olenox's growth prospects.
- Transparency and Compliance: The full terms of the settlement agreements were disclosed in a Form 8-K filing published on February 18, 2026, ensuring the company's transparency and compliance with regulatory requirements.
OLENOX INDUSTRIES INC - SETTLEMENT REACHES FINALITY ON SERIES A PREFERRED SHARE CLAIMS
Agreement Overview: Olenox Industries has reached an agreement that resolves all claims related to its series of preferred shares.
Claims Resolution: The settlement effectively addresses and concludes any outstanding issues or disputes concerning the preferred shares.
Olenox Industries to Implement 1-for-10 Reverse Stock Split
- Reverse Stock Split Announcement: Olenox Industries has announced a 1-for-10 reverse stock split effective May 8, 2026, aimed at boosting its share price to meet the Nasdaq Capital Market's minimum bid requirement of $1.
- Impact on Outstanding Shares: Following the split, the number of outstanding shares will decrease from approximately 10.2 million to about 1.2 million, which, while reducing the share count, may impact the investment value for shareholders.
- Market Reaction: Following the announcement, OLOX shares fell 6% in premarket trading, reflecting market concerns about the company's future prospects and potentially affecting investor confidence.
- Regulatory Pressure: This move not only aims to comply with Nasdaq's minimum price requirement but also highlights the compliance pressures faced by the company, which could influence its future financing and market performance.
Olenox Initiates 2026 Drilling Program Amid Rising Oil Prices
- Drilling Program Launch: Olenox Industries Inc. has commenced its 2026 drilling program, planning to complete one well by the end of the current quarter, followed by three wells in each of the next three quarters, which is expected to significantly enhance the company's output and market competitiveness.
- Pipeline Recommissioning: The company has completed its survey of the 162-mile pipeline and is preparing the necessary paperwork to recommission and relicense it, with full functionality expected by the end of Q3 2026, thereby enhancing transportation capacity and operational efficiency.
- Daily Production Target: Olenox aims to achieve a target of 1,000 BOE per day by year-end, with CEO Michael McLaren stating that the company can leverage its stronger footing through new drills and acquisitions to solidify its market position.
- Positive Market Environment: With positive trends in oil prices, Olenox believes now is the optimal time to kick off its drilling program, which will not only boost production capacity but also lay a foundation for future growth.
Olenox Industries Selected for New Jersey Park Infrastructure Project
- Project Selection: Olenox Industries' subsidiary, Giant Containers, has been selected to provide design and construction services for critical infrastructure at New Jersey's newest state park, marking a significant expansion in the company's infrastructure capabilities.
- Greenway Development: The park aims to transform nearly one mile of the Newark segment into a nine-mile greenway connecting eight communities in Essex and Hudson counties, enhancing regional accessibility and environmental quality.
- Community Value Enhancement: Giant Containers will deliver foundational infrastructure and community-oriented amenities aimed at improving safety and long-term durability, thereby providing lasting environmental, economic, and community value across northern New Jersey.
- Sustainability Commitment: Olenox Industries focuses on infrastructure solutions that combine environmental responsibility with engineering expertise, driving the development of sustainable infrastructure to ensure equitable access to open spaces.
Giant Containers to Deliver Modular Solutions for Leading EV Company
- Project Engagement: Giant Containers has been retained by a leading electric vehicle company to design and deliver modular buildings across multiple U.S. locations, aimed at supporting the client's ongoing expansion to meet rising consumer demand and infrastructure needs.
- Design and Delivery: The project scope includes multiple custom steel modular buildings, with Giant Containers providing integrated design-build services to ensure consistency, speed to market, and alignment with sustainability standards across all sites.
- Infrastructure Demand: As EV adoption accelerates, the need for resilient, modular, and energy-efficient site solutions becomes critical, underscoring Giant Containers' position as a trusted partner for next-generation infrastructure, according to the CEO.
- Future Outlook: Work is expected to commence in the coming months, with phased delivery aligned to the client's national expansion schedule, as Giant Containers focuses on reducing construction timelines and supporting sustainable development objectives.
Olenox Settles Convertible Note with CEO McLaren
- Debt-to-Equity Conversion: Olenox CEO Michael McLaren has executed a settlement agreement to convert his convertible promissory note into common shares, fully settling the note's balance, which reflects the company's proactive approach to optimizing its capital structure.
- Preferred Share Exchange: Olenox also executed an agreement with McLaren to exchange 39,000 shares of Series A Preferred Shares for 585,000 restricted common shares, resolving all claims related to the preferred shares while enhancing shareholder value in the long term.
- Management Confidence: CFO Tricia Kaelin stated that this transaction conveys the CEO's commitment to the company and his vision for the future, further bolstering investor confidence in Olenox's growth prospects.
- Transparency and Compliance: The full terms of the settlement agreements were disclosed in a Form 8-K filing published on February 18, 2026, ensuring the company's transparency and compliance with regulatory requirements.
OLENOX INDUSTRIES INC - SETTLEMENT REACHES FINALITY ON SERIES A PREFERRED SHARE CLAIMS
Agreement Overview: Olenox Industries has reached an agreement that resolves all claims related to its series of preferred shares.
Claims Resolution: The settlement effectively addresses and concludes any outstanding issues or disputes concerning the preferred shares.
