First Two Modular Data Centres Online At Pathfinder Lease in Colorado
AXP Energy (AUNXF) has successfully launched its first bitcoin mining operation at the Pathfinder lease in Colorado. The company has deployed two modular data centres (MDCs) hosting 515 Bitmain S19J Pro Antminers, powered by 1.2MW of electricity generated from natural gas at the Pathfinder #2 well.
The operation marks a significant milestone as it enables both bitcoin mining and oil production from the Niobrara Formation, creating dual revenue streams. The company is planning to expand with two additional gas-to-power sites at JW Powell and Kelce Court production hubs, targeting a combined power output of 5MW/h.
AXP aims to scale operations to utilize its substantial 2C gas resources of 0.744 Tcf, targeting bitcoin miners and data centre operators. The company has established this first site in approximately 10 months, serving as a blueprint for future expansions under the Joint Development Agreement with Blackhart Technologies.
AXP Energy (AUNXF) ha lanciato con successo la sua prima operazione di mining di bitcoin presso il lease Pathfinder in Colorado. L'azienda ha installato due centri dati modulari (MDC) che ospitano 515 Bitmain S19J Pro Antminers, alimentati da 1,2 MW di elettricità generata da gas naturale presso il pozzo Pathfinder #2.
Questa operazione segna un traguardo significativo poiché consente sia il mining di bitcoin che la produzione di petrolio dalla formazione Niobrara, creando due flussi di entrate. L'azienda prevede di espandersi con due ulteriori siti di conversione gas-elettricità nei poli produttivi JW Powell e Kelce Court, puntando a una produzione combinata di 5 MW/h.
AXP punta a scalare le operazioni per sfruttare le sue sostanziali risorse di gas 2C di 0,744 Tcf, mirando a miner di bitcoin e operatori di centri dati. L'azienda ha stabilito questo primo sito in circa 10 mesi, servendo da modello per future espansioni nell'ambito dell'Accordo di Sviluppo Congiunto con Blackhart Technologies.
AXP Energy (AUNXF) ha lanzado con éxito su primera operación de minería de bitcoin en el arrendamiento Pathfinder en Colorado. La compañía ha desplegado dos centros de datos modulares (MDC) que alojan 515 Bitmain S19J Pro Antminers, alimentados por 1,2 MW de electricidad generada a partir de gas natural en el pozo Pathfinder #2.
La operación marca un hito significativo, ya que permite tanto la minería de bitcoin como la producción de petróleo de la Formación Niobrara, creando flujos de ingresos duales. La compañía planea expandirse con dos sitios adicionales de gas a energía en los centros de producción de JW Powell y Kelce Court, con un objetivo de producción combinada de 5 MW/h.
AXP tiene como objetivo escalar las operaciones para utilizar sus sustanciales recursos de gas 2C de 0,744 Tcf, dirigiéndose a mineros de bitcoin y operadores de centros de datos. La compañía estableció este primer sitio en aproximadamente 10 meses, sirviendo como un modelo para futuras expansiones bajo el Acuerdo de Desarrollo Conjunto con Blackhart Technologies.
AXP Energy (AUNXF)는 콜로라도에 있는 패스파인더 리스에서 첫 번째 비트코인 채굴 작업을 성공적으로 시작했습니다. 회사는 두 개의 모듈형 데이터 센터(MDC)를 배치하여 515개의 비트메인 S19J 프로 안트마이너를 호스팅하고 있으며, 이는 패스파인더 #2 우물에서 생성된 1.2MW의 전력으로 운영됩니다.
이 작업은 비트코인 채굴과 니오브라라층에서의 석유 생산을 동시에 가능하게 하여 두 가지 수익원을 창출하는 중요한 이정표를 설정합니다. 회사는 JW 파월과 켈스 코트 생산 허브에서 5MW/h의 결합 전력 출력을 목표로 하는 두 개의 추가 가스-전력 사이트를 계획하고 있습니다.
AXP는 0.744 Tcf의 상당한 2C 가스 자원을 활용하기 위해 운영을 확장할 계획이며, 비트코인 채굴자 및 데이터 센터 운영자를 타겟으로 하고 있습니다. 회사는 블랙하트 기술과의 공동 개발 계약에 따라 향후 확장을 위한 청사진으로 작용하는 첫 번째 사이트를 약 10개월 만에 설정했습니다.
AXP Energy (AUNXF) a lancé avec succès sa première opération de mining de bitcoin sur le bail Pathfinder dans le Colorado. L'entreprise a déployé deux centres de données modulaires (MDC) hébergeant 515 Bitmain S19J Pro Antminers, alimentés par 1,2 MW d'électricité générée à partir de gaz naturel au puits Pathfinder #2.
Cette opération marque une étape importante, car elle permet à la fois le mining de bitcoin et la production de pétrole à partir de la formation Niobrara, créant ainsi des flux de revenus doubles. L'entreprise prévoit d'étendre ses activités avec deux sites supplémentaires de conversion gaz-électricité aux hubs de production de JW Powell et Kelce Court, visant une production combinée de 5 MW/h.
AXP vise à étendre ses opérations pour tirer parti de ses ressources de gaz 2C substantielles de 0,744 Tcf, ciblant les mineurs de bitcoin et les opérateurs de centres de données. L'entreprise a établi ce premier site en environ 10 mois, servant de modèle pour de futures expansions dans le cadre de l'accord de développement conjoint avec Blackhart Technologies.
AXP Energy (AUNXF) hat erfolgreich seine erste Bitcoin-Mining-Operation im Pathfinder-Lease in Colorado gestartet. Das Unternehmen hat zwei modulare Rechenzentren (MDCs) eingerichtet, die 515 Bitmain S19J Pro Antminer beherbergen, die von 1,2 MW Elektrizität betrieben werden, die aus Erdgas am Pathfinder #2-Brunnen erzeugt wird.
Die Operation stellt einen bedeutenden Meilenstein dar, da sie sowohl das Bitcoin-Mining als auch die Ölproduktion aus der Niobrara-Formation ermöglicht, wodurch zwei Einnahmequellen geschaffen werden. Das Unternehmen plant die Erweiterung mit zwei weiteren Gas-zu-Strom-Standorten an den Produktionsstandorten JW Powell und Kelce Court mit einem Ziel von 5 MW/h.
AXP zielt darauf ab, die Aktivitäten auszuweiten, um seine erheblichen 2C-Gasressourcen von 0,744 Tcf zu nutzen, mit dem Ziel, Bitcoin-Miner und Rechenzentrumsbetreiber zu erreichen. Das Unternehmen hat diesen ersten Standort in etwa 10 Monaten eingerichtet und dient als Vorlage für zukünftige Expansionen im Rahmen des Joint Development Agreement mit Blackhart Technologies.
- Successful launch of two MDCs generating revenue from both bitcoin mining and oil production
- 1.2MW power generation from natural gas enabling first-time oil production from Niobrara Formation
- Planned expansion to 5MW/h total power output with two additional sites
- Large gas resource base of 0.744 Tcf available for scaling operations
- Initial operation still in 14-day trial period
- Revenue figures and profitability metrics not disclosed
HIGHLIGHTS
First two modular data centres (MDCs) hosting a total of 515 Bitmain S19J Pro (104T) Antminers mining bitcoin are now operational and connected via Starlink. AXP is supporting Blackhart Technologies bitcoin mining operations with co-located gas-to-power generation and on-site technical support;
AXP's two gas-fired Gentec generators are producing 1.2MW of electricity from natural gas sourced from the Pathfinder #2 well. As a result of the gas flow from the well, oil production is now occurring from the Niobrara Formation. This is the first time this well has produced gas allowing oil production;
AXP and Blackhart are working collaboratively to ensure the first two MDCs achieve benchmarked uptime and reliability over the trial period of 14 days. Planning is underway for the build-out of two more gas to power sites at the JW Powell and Kelce Court production hubs. When completed the combined targeted power output is 5MW/h from Gas to Power from the Company's leases in the Florence Oil Field in Colorado;
A longer term goal is to scale operations to meet the power generation requirements of bitcoin miners and data centre owner/operators interested in tapping the Pathfinder Field's 2C gas resources of 0.744 Tcf(1);
The Pathfinder #2 operation adds a new gas-to-power revenue stream to AXP as well as increased oil revenue.
A video of the first site's bitcoin mining operation can be seen at:
https://vimeo.com/1053640003/d738f51826
FLORENCE, CO / ACCESS Newswire / February 6, 2025 / AXP Energy Limited (ASX:AXP)(OTC PINK:AUNXF), (‘AXP', ‘Company') is pleased to confirm that following the receipt of permits from the State of Colorado, the first two modular data centres at the Pathfinder #2 well site are online with bitcoin mining operations underway under the Joint Development Agreement (‘JDA') with US-based Blackhart Technologies Limited (‘Blackhart'). The two MDCs are powered by AXP's natural gas from the Pathfinder #2 well and are co-located with two gas-fired generators that AXP has secured with a lease-to-purchase arrangement.
The establishment of this first site in ~10 months is an excellent achievement for AXP and acts as a valuable blueprint for the set-up of future sites in the coming months. Our focus at this time is to deliver reliable gas-to-power generation over a set number of days from this first site. Next steps will be to build out of future sites with Blackhart and to secure additional counterparties under the JDA.
(1) ‘Tcf' means Trillion Cubic Feet. This information is extracted from AXP's Annual Report to Shareholders 2024, ASX announcement dated 20 September 2024, available at www.axpenergy.com.au or www.asx.com.au
Comment
Non-Executive Director Dan Lanskey, who is currently onsite in Colorado, said:
"Our technical team in Colorado is to be congratulated for their efforts in getting the first site up and running. Operations are performing well; the bitcoin miners have now been online for over 72 hours and our co-sited generators and gas processing infrastructure are meeting expectations and the well is also producing oil to the tank battery.
Now that we have a live, working model at Pathfinder we have a great opportunity to showcase the field to much larger potential customers, which we are doing in collaboration with Blackhart. Demand for off-grid power from data centre owner/operators including bitcoin miners in the USA is considerable and the Federal US Government is now actively supporting the industry growth.
AXP's 2C gas resource of .75 Tcf can deliver the necessary volumes to support very large data centres and pursuing these opportunities is a key focus for us right now. The gas being used by the generators will allow us to grow our oil revenue in addition to the revenue stream from the Gas to Power output.
We are monitoring oil production daily and a further update is expected early next week once we have 7 days of the site being online."
AXP will report on oil production activities next week and will also keep shareholders updated on the progress of the Pathfinder #2 gas-to-power-data centre operation.
This announcement has been authorised by the Board of AXP Energy Limited.
FURTHER INFORMATION
Sam Jarvis, Non-Executive Chairman: 0418 165 686
Dan Lanskey, Non-Executive Director: 0451 558 018
Released through: Ben Jarvis, Six Degrees Investor Relations: 0413 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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