Olenox Industries Inc. (NASDAQ:OLOX) stock rose Monday in premarket trading. The move followed several updates last week, including July 2026 Bitcoin production data and a planned $20 million acquisition.

Bitcoin Mining Operations Expand

Olenox produced about 15.13 Bitcoin (CRYPTO: BTC) in July, with an average realized operational hashrate of about 1.02 EH/s.

Realized hashrate reached about 64% of the fleet’s economic capacity. Olenox cited planned summer curtailment, low-power-mode operations and normal equipment availability.

The fleet includes 9,584 S21-class ASIC miners. It has about 35 MW of installed capacity and 2.19 EH/s of nameplate capacity.

July production came from third-party hosting facilities powered by the ERCOT grid. Therefore, the results do not yet reflect Olenox’s plan to convert natural gas into computing power at the point of generation. The company is targeting power costs below 2 cents per kWh.

Olenox Strikes $20 Million Acquisition Deal

Olenox also said Wednesday it signed a nonbinding letter of intent to acquire Wildboy Holdings Ltd. and IPD Industries Inc. for about $20 million.

The proposed deal would be paid primarily in Olenox preferred stock, along with common stock and cash. It would give Olenox access to additional natural gas resources, power-generation opportunities and infrastructure for data centers and other power-intensive applications.

Wildboy’s assets include a natural gas plant with processing capacity of up to 144 MMcf per day and interests tied to more than 180,000 acres in northern British Columbia. Existing wells could provide up to 18 MMcf per day of natural gas, potentially supporting about 90 MW of gas-fired generation.

IPD has interests associated with more than 5,000 acres near the Waha Hub in Texas. Its portfolio includes natural gas arrangements and projects involving electric infrastructure, substations, water infrastructure and on-site generation.

The companies are targeting a closing by Oct. 31. However, the proposed acquisition remains subject to due diligence, definitive agreements and required corporate, shareholder, Nasdaq, regulatory and third-party approvals.

OLOX Stock Price

OLOX Stock Price Activity: Olenox Industries shares were up 11% at $2.32 in Monday’s premarket trading, according to Benzinga Pro data.

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