Olenox Industries mines 14.92 BTC in June amid Texas heat

Olenox Industries Inc. (NASDAQ: OLOX) reported Bitcoin production of approximately 14.92 BTC for June 2026, down from the prior month, citing elevated summer temperatures at its Texas hosting site as the primary cause of reduced output.

The company said its fleet of 9,584 S21-class ASIC miners achieved an average operational hashrate of approximately 1.06 EH/s during June, representing about 67% of the fleet's economic capacity. That figure compares with approximately 81% fleet utilization reported for May 2026. The installed fleet carries a nameplate capacity of approximately 2.19 EH/s across roughly 35 MW of installed capacity.

Olenox attributed the decline to two temperature-related factors: increased low-power-mode operation to protect hardware from heat stress, and a higher number of curtailment events during periods of peak heat and adverse grid conditions. The company said the percentage decline in Bitcoin mined exceeded the percentage decline in hashrate, consistent with Bitcoin network difficulty conditions during the period.

The mining operations are conducted through CS Digital Ventures, LLC at third-party hosting facilities drawing power from the ERCOT grid. Production figures are preliminary and unaudited.

"June's results reflect the seasonal reality of operating in Texas during peak summer heat — we intentionally traded short-term hashrate for fleet protection," said Michael McLaren, Chief Executive Officer of Olenox.

The company said it expects fleet utilization and monthly Bitcoin production to remain sensitive to ambient temperature through the remainder of the summer, with improvement anticipated as temperatures moderate. Olenox stated it plans to continue issuing monthly production updates consistent with industry practice.

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