Curated News
By: NewsRamp Editorial Staff
October 22, 2026
Olenox Unveils 3-Phase Plan to Cut Bitcoin Mining Power Costs by 75%
TLDR
- Olenox targets a 75% cut in power costs to $0.015 per kWh, doubling its Bitcoin mining fleet to 20,000 miners for a major cost edge.
- Olenox plans three phases: build low-cost power at Wildboy and Pecos, relocate miners, then expand to 20,000 miners and 75 megawatts.
- Olenox aims to use low-cost natural gas for energy-intensive computing, potentially reducing waste and supporting more efficient digital infrastructure.
- Olenox may cut electricity rates from $0.06 to $0.015 per kWh by using its own natural-gas platforms to power Bitcoin mining.
Impact - Why it Matters
Olenox's ambitious plan to slash electricity costs by 75% could significantly enhance the competitiveness of its Bitcoin mining operations, but the targets are contingent on substantial financing and successful execution. If achieved, the strategy would demonstrate how vertically integrated energy companies can leverage low-cost natural gas to power digital infrastructure, potentially setting a precedent for the industry. For investors, the announcement signals a potential path to higher margins, though risks remain. The news also underscores the growing intersection of energy and cryptocurrency mining, where access to cheap power is a key differentiator.
Summary
Olenox Industries (NASDAQ: OLOX) has unveiled a three-phase strategy to significantly expand its Bitcoin mining operations by developing lower-cost, self-generated electricity. The plan involves potentially relocating its existing mining equipment and increasing its fleet from approximately 9,700 to 20,000 miners. The company is evaluating its Wildboy natural-gas platform in British Columbia and its Pecos-area energy platform in Texas as potential sites for power generation and mining operations. Olenox is targeting electricity costs of approximately $0.015 per kilowatt-hour, compared with its current rate of approximately $0.06, representing a potential 75% reduction in electricity rates if achieved on a comparable, all-in delivered-cost basis.
The strategy calls for establishing lower-cost power generation, potentially relocating existing Texas-based miners to company-powered facilities, and subsequently expanding the mining fleet. Olenox estimates that achieving its contemplated mining power capacity would require deploying additional generators to reach 75 megawatts. The company emphasized that its electricity cost and fleet expansion targets are not yet achieved and remain contingent on substantial financing, infrastructure development, equipment procurement, and successful project execution. The projected reduction in electricity rates does not necessarily translate into a corresponding increase in profitability. To view the full press release, visit https://ibn.fm/tXoW5.
Olenox Industries Inc. is a vertically integrated U.S. energy company operating across oil and gas, energy services, and energy technologies, including the proprietary Olenox process. The company focuses on acquiring, optimizing, and scaling energy-related infrastructure and operating assets, with a strategic focus on bringing low-cost natural gas to high-value end uses, including digital infrastructure and next-generation computing. The latest news and updates relating to OLOX are available in the company’s newsroom at https://ibn.fm/OLOX. InvestorWire is a specialized communications platform with a focus on advanced wire-grade press release syndication, and is one of 75+ brands within the Dynamic Brand Portfolio @ IBN, delivering access to a vast network of wire solutions, editorial syndication to 5,000+ outlets, press release enhancement, social media distribution, and corporate communications solutions.
Source Statement
This curated news summary relied on content distributed by InvestorBrandNetwork (IBN). Read the original source here, Olenox Unveils 3-Phase Plan to Cut Bitcoin Mining Power Costs by 75%
