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Olenox (NASDAQ:OLOX) issued its first post‑acquisition operating update, reporting May 2026 Bitcoin production from CS Digital operations.
About 18.6 BTC were mined with an average hashrate of 1.30 EH/s and 81% fleet utilization across 9,584 S21-class miners (35 MW, 2.19 EH/s nameplate). Production currently runs at ERCOT-based third‑party hosting sites; Olenox’s forward strategy targets off‑grid, gas-powered sites with power costs below $0.02/kWh.
On May 28, 2026, Olenox closed the CS Digital acquisition for $30 million upfront (Series D preferred stock and a seller note), plus warrants for 1.5 million common shares and up to $20 million in earn-out preferred stock.
Olenox Industries (NASDAQ:OLOX) reported receiving a Nasdaq delinquency notice on May 28, 2026 because it has not filed its Form 10-K for the year ended December 31, 2025.
Olenox has until June 22, 2026 to submit a compliance plan or file the Form 10-K and states it remains focused on meeting Nasdaq listing requirements.
Olenox Industries (NASDAQ:OLOX) closed its acquisition of 100% of CS Digital Ventures, creating a vertically integrated, gas-powered, off-grid digital infrastructure platform.
Olenox paid $30M upfront ($14M Series D preferred, $16M seller note), plus up to $20M earn-out, and issued warrants for 1.5M shares. CS Digital adds 35 MW capacity, 2025 revenue of $20.6M and EBITDA of $6.2M, targeting power costs below $0.02/kWh for energy-intensive data centers and AI compute.
Olenox Industries (NASDAQ:OLOX) will effect a 1-for-10 reverse stock split effective May 8, 2026 at 12:01 AM Eastern Time. The split reduces issued and outstanding shares from approximately 10.2 million to 1.2 million and assigns new CUSIP 78418A802.
The Reverse Split is intended to increase the per-share trading price to satisfy the $1.00 minimum bid requirement for continued Nasdaq listing. Options, warrants, restricted stock awards and exercise/conversion prices will be proportionately adjusted. The Board approved the 1-for-10 ratio on April 22, 2026 after shareholder authorization on March 31, 2026.
Olenox Industries (NASDAQ:OLOX) said its wholly owned subsidiary SG Echo LLC filed a voluntary Chapter 11 reorganization on May 4, 2026, in the U.S. Bankruptcy Court for the Eastern District of Oklahoma. The filing applies only to SG Echo; Olenox and other affiliates continue normal operations.
The company said SG Echo expects to operate in the ordinary course, pursue a court-approved plan of reorganization, and reduce liabilities by an estimated $2.0 million. Management cited a recent relocation of SG Echo's manufacturing facility to Conroe, Texas, as part of efficiency efforts.
Olenox (NASDAQ:OLOX) announced a proposed all-stock merger with CS Digital on April 22, 2026 to combine Olenox's energy platform with CS Digital's Bitcoin-mining infrastructure and leadership.
The plan contemplates up to $50,000,000 in preferred shares (issued in three tranches), CS Digital's ~2.1 EH capacity, 2025 revenue $20.6M and 2025 EBITDA $6.2M, and a target power cost below $0.02/kWh.
Olenox Industries (NASDAQ:OLOX) received a Nasdaq delinquency notice on April 21, 2026 for not filing its Form 10-K for the period ending December 31, 2025. The company has until June 22, 2026 to submit a plan to regain compliance or alternatively file the Form 10-K.
If Nasdaq accepts the plan, an exception can extend the cure period up to 180 days from the Form 10-K due date, or until October 13, 2026. Olenox says it expects to submit a plan or file the Form 10-K on or before June 22, 2026 and will maintain communication with stakeholders.
Olenox Industries (NASDAQ:OLOX) amended its Letter of Intent to acquire CPE Gathering MidCon, LLC, the operator of the Omega pipeline system in the Oklahoma STACK play, moving the targeted close to April 30, 2026 (no later than May 15, 2026).
The transaction is valued at approximately $36 million and will be paid with cash, a promissory note, common and preferred stock, and is supported by a $4.56 million annual EBITDA figure under a take-or-pay guarantee. Olenox says the deal would expand fee-based revenue, reduce hauling and terminaling costs for producers, and create operational synergies with its field services.
Olenox (NASDAQ:OLOX) reported results of its 2025 Annual Meeting held March 31, 2026. Stockholders elected seven directors, ratified RBSM LLP as auditor, approved executive compensation (advisory), multiple large equity issuances exceeding 20% of outstanding stock, and authorized major charter and incentive-plan changes.
Shareholders approved increasing authorized common shares from 75,000,000 to 3,000,000,000, adding 1,500,000 shares to the stock incentive plan plus annual 4.5% increases, and a potential 1-for-10 to 1-for-20 reverse stock split. A proposed merger and conversion of Series A preferred stock were not approved.
Olenox Industries (NASDAQ: OLOX) reports its well revitalization program has stabilized production and is approaching the company's 70 barrels-per-day target in the Wichita field. Since December 2025, Olenox revitalized 10 wells and expects 25 more online by end of Q1 2026.
The company deployed a dedicated rig in December 2025 and is adding wells weekly while evaluating > 6,000 acres of potential acquisitions to expand drilling and workover opportunities.