AXP and BitFuFu Partner in Power Generation
AXP Energy (AUNXF) has successfully completed a 14-day gas-to-power trial at its Pathfinder production hub, generating approximately 1.5 MW/hour of electricity to power bitcoin mining containers. The trial achieved 85% system uptime, later improving to over 90% post-trial.
The company has partnered with NASDAQ-listed BitFuFu (FUFU) for the next expansion phase, where BitFuFu will provide additional ASIC Miners and equipment. The partnership aims to scale up operations to 25MW/hour by the end of 2025, utilizing Pathfinder's approximately 750 Bcf of contingent gas resources.
The initial trial site consumed approximately 200 Mcf of gas per day, with the next phase targeting an expansion to 5MW of electricity. The partnership is also exploring additional opportunities in North America, with AXP serving as the energy provider.
AXP Energy (AUNXF) ha completato con successo un trial di 14 giorni per la conversione del gas in energia presso il suo centro di produzione Pathfinder, generando circa 1,5 MW/ora di elettricità per alimentare i container di mining di bitcoin. Il trial ha raggiunto un uptime del sistema dell'85%, migliorando successivamente a oltre il 90% dopo il trial.
L'azienda ha stretto una partnership con BitFuFu quotata al NASDAQ (FUFU) per la prossima fase di espansione, in cui BitFuFu fornirà ulteriori ASIC Miners e attrezzature. L'obiettivo della partnership è aumentare le operazioni fino a 25MW/ora entro la fine del 2025, sfruttando circa 750 Bcf di risorse di gas contingente disponibili presso Pathfinder.
Il sito del trial iniziale ha consumato circa 200 Mcf di gas al giorno, con la fase successiva che punta a un'espansione a 5MW di elettricità. La partnership sta anche esplorando ulteriori opportunità in Nord America, con AXP che funge da fornitore di energia.
AXP Energy (AUNXF) ha completado con éxito una prueba de 14 días de gas a energía en su centro de producción Pathfinder, generando aproximadamente 1.5 MW/hora de electricidad para alimentar contenedores de minería de bitcoin. La prueba alcanzó un tiempo de actividad del sistema del 85%, mejorando posteriormente a más del 90% después de la prueba.
La compañía se ha asociado con BitFuFu cotizada en NASDAQ (FUFU) para la próxima fase de expansión, donde BitFuFu proporcionará mineros ASIC y equipos adicionales. La asociación tiene como objetivo aumentar las operaciones a 25MW/hora para finales de 2025, utilizando aproximadamente 750 Bcf de recursos de gas contingente de Pathfinder.
El sitio de prueba inicial consumió aproximadamente 200 Mcf de gas por día, con la siguiente fase que apunta a una expansión a 5MW de electricidad. La asociación también está explorando oportunidades adicionales en América del Norte, con AXP como proveedor de energía.
AXP Energy (AUNXF)는 Pathfinder 생산 허브에서 14일간의 가스-전력 시험을 성공적으로 완료하여 비트코인 채굴 컨테이너에 전력을 공급하기 위해 약 1.5 MW/시간의 전기를 생성했습니다. 이 시험은 시스템 가동률 85%를 달성했으며, 시험 후 90% 이상으로 개선되었습니다.
회사는 다음 확장 단계에서 NASDAQ 상장 기업 BitFuFu (FUFU)와 파트너십을 체결하여 BitFuFu가 추가 ASIC 채굴기 및 장비를 제공할 예정입니다. 이 파트너십의 목표는 Pathfinder의 약 750 Bcf의 비축가스를 활용하여 2025년 말까지 25MW/시간으로 운영을 확대하는 것입니다.
초기 시험 사이트는 하루에 약 200 Mcf의 가스를 소비했으며, 다음 단계는 5MW의 전기로 확대하는 것을 목표로 하고 있습니다. 이 파트너십은 또한 AXP가 에너지 공급자로 활동하는 북미의 추가 기회를 탐색하고 있습니다.
AXP Energy (AUNXF) a réussi à compléter un essai de 14 jours de conversion de gaz en électricité dans son hub de production Pathfinder, générant environ 1,5 MW/heure d'électricité pour alimenter des conteneurs de minage de bitcoin. L'essai a atteint un temps de fonctionnement du système de 85%, s'améliorant ensuite à plus de 90% après l'essai.
L'entreprise s'est associée à BitFuFu cotée au NASDAQ (FUFU) pour la prochaine phase d'expansion, où BitFuFu fournira des mineurs ASIC et du matériel supplémentaires. L'objectif de ce partenariat est d'augmenter les opérations à 25MW/heure d'ici fin 2025, en utilisant environ 750 Bcf de ressources en gaz contingentes de Pathfinder.
Le site de l'essai initial a consommé environ 200 Mcf de gaz par jour, la phase suivante visant une expansion à 5MW d'électricité. Le partenariat explore également d'autres opportunités en Amérique du Nord, avec AXP agissant en tant que fournisseur d'énergie.
AXP Energy (AUNXF) hat erfolgreich einen 14-tägigen Gas-zu-Strom-Test in seinem Pathfinder-Produktionszentrum abgeschlossen und dabei etwa 1,5 MW/Stunde Strom zur Versorgung von Bitcoin-Mining-Containern erzeugt. Der Test erreichte eine Systemverfügbarkeit von 85%, die sich nach dem Test auf über 90% verbesserte.
Das Unternehmen hat sich mit NASDAQ-notiertem BitFuFu (FUFU) für die nächste Expansionsphase zusammengetan, in der BitFuFu zusätzliche ASIC-Miner und Ausrüstung bereitstellen wird. Ziel der Partnerschaft ist es, die Betriebsleistung bis Ende 2025 auf 25MW/Stunde zu steigern und dabei etwa 750 Bcf an kontingenten Gasressourcen von Pathfinder zu nutzen.
Der ursprüngliche Teststandort verbrauchte täglich etwa 200 Mcf Gas, wobei die nächste Phase eine Erweiterung auf 5MW Strom anstrebt. Die Partnerschaft untersucht auch zusätzliche Möglichkeiten in Nordamerika, wobei AXP als Energieanbieter fungiert.
- Successful gas-to-power trial with 85% uptime, improving to >90%
- Partnership with NASDAQ-listed BitFuFu for expansion
- Planned scale-up to 25MW/hour by end of 2025
- Large gas resource base of ~750 Bcf available for expansion
- Current production to only 1.5 MW/hour
- Low initial gas consumption of only 200 Mcf per day
Successful completion of 14-day gas-to-power trial at Pathfinder production hub delivers ~1.5 MW/hour of electricity to power two bitcoin mining containers;
The 14-day trial delivered ~
85% system uptime and, since the end of the trial, the system has achieved greater than90% uptime;AXP has secured the support of NASDAQ-listed Bitcoin miner BitFuFu, Inc. (NASDAQ: FUFU, FUFU.WS) for the next phase of expansion at Pathfinder;
BitFuFu will supply additional ASIC Miners and other equipment to support the next phase of expansion, with AXP focused on delivering gas-to-power and site services;
All parties are now committed to establishing power generation output of 25MW/hour by the end of CY2025 for a significant scale up of bitcoin mining operations, powered by Pathfinder's ~750 Bcf of contingent gas resources;
The parties are now assessing further expansion opportunities.
FLORENCE, CO / ACCESS Newswire / March 18, 2025 / AXP Energy Limited (ASX:AXP)(OTC PINK:AUNXF), (‘AXP', ‘Company') is pleased to report the successful completion of the initial trial of gas-to-power operations at the Pathfinder production hub in Colorado (announced 6 February 2025) that saw the Company deliver 1.5 MW/hour of electricity over 14 days at
AXP has, through its JV partner, secured the support of NASDAQ listed BitFuFu, Inc (NASDAQ: FUFU, FUFU.WS) ('BitFuFu') for the next phase of expansion of bitcoin mining activities at the Pathfinder Field which has a ready supply of natural gas from its portfolio of 24 wells which have further production upside.
As communicated, AXP is now targeting the phased delivery of 25MW of electricity by the end of CY2025. The next step is to expand the first site to 5MW of electricity with BitFuFu contributing additional ASIC miners and associated equipment. In addition to scaling up operations at the Pathfinder Field, the parties also collaborating on other potential opportunities in North America with AXP as the energy provider.
AXP Energy Managing Director, Dan Lanskey commented,"AXP is in an exciting position following this trial and we have had excellent fortune to deliver a reliable operation which has now been running smoothly for over a month. BitFuFu's participation is an outstanding development for AXP and aligns with our strategy of attracting counter parties that have the capacity and balance sheet to significantly scale up operations in Colorado and other sites under consideration. The first site acts as a valuable reference point, with all parties demonstrating they we can bring a reliable gas-to-power-bitcoin mining operation online in a fairly seamless manner, and that this can be replicated many times over for a greatly scaled up operation here. Our focus now turns to the build out of this next phase and we will report on progress as it unfolds. Work is now advancing on this phase and we are wasting no time. It is worth noting that this first site only consumed ~200 Mcf of gas per day, very modest flows, and the current portfolio of wells has capacity much beyond this."
About BitFuFu, Inc.
BitFuFu Inc. is a global leader in Bitcoin mining and comprehensive mining services, providing customers with one-stop solutions including cloud-mining. BitFuFu received early investment from BITMAIN, a world-leading digital asset mining hardware manufacturer, and remains BITMAIN's strategic partner in the Bitcoin mining and mining services space.
BitFuFu is dedicated to fostering a secure, compliant, and transparent blockchain infrastructure, providing a variety of stable and intelligent digital asset mining solutions to a global customer base. Leveraging its expanding global mining facility network and strategic partnership with BITMAIN, BitFuFu enables institutional customers and digital asset enthusiasts to mine digital assets efficiently. For more information, please visit https://ir.bitfufu.com/.
This announcement has been authorised by the Board of AXP Energy Limited.
FURTHER INFORMATION
Dan Lanskey, Managing Director:+61 (0)451 558 018
Sam Jarvis, Non-Executive Chairman: +61 (0)418 165 686
Released through: Ben Jarvis, Six Degrees Investor Relations: +61(0)413 150 448 ben.jarvis@sdir.com.au
ABOUT AXP ENERGY LIMITED
AXP ENERGY Limited (ASX: AXP, OTC: AUNXF) is an oil & gas production and development company with core operations in Colorado. AXP is focused on repurposing stranded gas at its
DISCLAIMER
This announcement contains or may contain "forward looking statements" within the meaning of Section 27A of the Securities Act of1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects", "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Hydrocarbon production rates fluctuate over time due to reservoir pressures, depletion, down time for maintenance and other factors. The Company does not represent that quoted hydrocarbon production rates will continue indefinitely.
SOURCE: AXP Energy Limited
View the original press release on ACCESS Newswire
FAQ
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