July 2026 P oductio Highlights
Bitcoi mi ed: app oximately15.13 BTC c edited to the Compa y’s mi i g pool accou ts du i g July 1-31, 2026.Ave age ope atio al hash ate: app oximately1.02 EH/s ealized ac oss the Compa y’s mi i g pool accou ts du i g the pe iod.Fleet utilizatio : ealized hash ate ep ese ted app oximately64% of the fleet’s eco omic capacity du i g the pe iod, eflecti g pla ed summe cu tailme t, low-powe -mode ope atio a d o mal equipme t availability.I stalled fleet: 9,584 cu e t-ge e atio S21-class ASIC mi e s ep ese ti g app oximately35 MW of i stalled capacity (app oximately 2.19 EH/s ameplate) at a ble ded ha dwa e efficie cy of app oximately16 J/TH .
P oductio figu es a e p elimi a y, u audited, a d subject to fi al ope atio al a d fi a cial eview. Repo ted p oductio eflects Bitcoi c edited to the Compa y’s pool accou ts, befo e settleme t of hosti g p ofit-sha e amou ts desc ibed below, a d is show et of mi i g-pool fees.
The July p oductio epo ted he ei was ge e ated at thi d-pa ty hosti g facilities d awi g powe f om the ERCOT g id. The Compa y’s st ategy of co ve ti g Ole ox’s atu al gas i to compute at the poi t of ge e atio , i cludi g the ta geted sub-$0.02 pe kWh powe cost, desc ibes the combi ed platfo m’s fo wa d pla a d is ot eflected i the cu e t pe iod’s esults.
The Compa y expects to p ovide mo thly p oductio updates i the ea ly pa t of each mo th, co siste t with i dust y p actice amo g Bitcoi mi i g ope ato s.
P ofit-Sha e A a geme t
The majo ity of the Compa y’s mi i g fleet ope ates at thi d-pa ty hosti g facilities u de p ofit-sha e a a geme ts, whe eby the hosti g p ovide is compe sated th ough a sha e of mi i g- elated value athe tha solely th ough a fixed hosti g fee. These a a geme ts a e settled th ough two diffe e t mecha isms. U de most of them, the hosti g p ovide ‘s sha e is settled di ectly at the mi i g-pool level, so that o ly the Compa y’s sha e is c edited to its pool accou ts. U de a othe a a geme t, cove i g a po tio of the fleet, the full output of the eleva t machi es is c edited to the Compa y’s pool accou ts a d the hosti g p ovide is i stead compe sated sepa ately th ough a mo thly i voice cove i g powe , a ma ageme t fee a d a p ofit-sha e compo e t.
The p oductio a d hash ate figu es epo ted above eflect Bitcoi a d hash ate c edited to the Compa y’s pool accou ts. Fo the po tio of the fleet settled by mo thly i voice, these figu es a e stated befo e deductio of the elated hosti g costs, which a e ecog ized sepa ately as a ope ati g expe se fo the pe iod a d we e ot yet fi alized as of the date of this elease. Powe costs a e bo e by the Compa y b oadly i p opo tio to the eco omic output it etai s. The Compa y i te ds to efi e its p oductio epo ti g methodology as i voici g fo the pe iod is fi alized a d expects to p ovide additio al detail i futu e updates.
Seaso al Ope atio s a d Outlook
July p oductio eflects delibe ate, weathe -d ive cu tailme t at the Compa y’s Texas hosti g site. Du i g pe iods of high ambie t heat, the Compa y cu tails o educes ope atio s to p otect the fleet – a sta da d p actice fo Texas-based mi i g ope atio s du i g the summe seaso , a d o e that also alig s powe use with g id a d p ici g co ditio s. As a esult, ealized hash ate du i g the pe iod was below the fleet’s ameplate capacity.
Fo the summe , the Compa y has elected to ope ate the fleet i a low-powe mode (LPM) to p ese ve ha dwa e du i g the hottest mo ths, eve ti g to o mal ope atio o ce the high-heat seaso e ds. I te al testi g i dicates that LPM mai tai s mi e efficie cy – educi g powe co sumptio b oadly i p opo tio to the eductio i hash ate – while mea i gfully lowe i g the isk of heat- elated ha dwa e failu es. The Compa y expects this app oach to esult i tempo a ily lowe hash ate a d Bitcoi p oductio du i g the summe mo ths, i excha ge fo imp oved fleet lo gevity, educed dow time, a d discipli ed powe co sumptio . Mo thly p oductio is expected to va y with seaso al tempe atu es, cu tailme t a d etwo k co ditio s.
Ma ageme t Comme ta y
“July is ou seco d mo th of epo ti g Bitcoi p oductio as a combi ed platfo m,” said Mike McLa e , Chai ma a d Chief Executive Office of Ole ox. “We i te d to co ti ue epo ti g p oductio o a mo thly basis as we b i g Ole ox’s e e gy assets a d CS Digital’s ope ati g capability togethe .”
About Ole ox I dust ies I c.
Ole ox I dust ies I c. (NASDAQ:OLOX) is a ve tically i teg ated U.S. e e gy compa y ope ati g ac oss multiple busi ess li es, i cludi g oil a d gas, e e gy se vices a d e e gy tech ologies, i cludi g the p op ieta y Ole ox p ocess. The Compa y is focused o acqui i g, optimizi g a d scali g e e gy- elated i f ast uctu e a d ope ati g assets ac oss key U.S. ma kets, with a st ategic focus o b i gi g low-cost atu al gas to high-value e d uses, i cludi g digital i f ast uctu e a d ext-ge e atio compute.
Fo wa d-Looki g Stateme ts
This p ess elease co tai s “fo wa d-looki g stateme ts” withi the mea i g of the P ivate Secu ities Litigatio Refo m Act of 1995 a d othe applicable U.S. fede al secu ities laws. Fo wa d-looki g stateme ts i clude, without limitatio , stateme ts ega di g mo thly Bitcoi p oductio a d the expectatio of p ovidi g futu e mo thly updates; expected be efits of the completed t a sactio betwee Ole ox I dust ies I c. a d CS Digital Ve tu es, LLC; the Se ies D P efe ed Stock, the Selle Note, the Wa a ts a d a y additio al Se ies D P efe ed Stock issuable upo achieveme t of post-closi g milesto es; the eceipt of stockholde app oval pe mitti g co ve sio of the Se ies D P efe ed Stock a d exe cise of the Wa a ts i to commo stock; the developme t a d scali g of off-g id, gas-powe ed digital i f ast uctu e; ta geted powe costs; a d the futu e busi ess, ope atio s a d fi a cial pe fo ma ce of the combi ed compa y. These stateme ts a e based o cu e t expectatio s a d assumptio s a d a e subject to isks, u ce tai ties a d othe facto s, ma y outside the Compa y’s co t ol, that could cause actual esults to diffe mate ially, i cludi g, amo g othe s, volatility i Bitcoi p ice a d etwo k difficulty; the ability to i teg ate CS Digital’s ope atio s; the ability to se vice the Selle Note; the ability to obtai stockholde app oval u de applicable Nasdaq listi g ules; the ability to achieve the milesto es u de lyi g the post-closi g ea out; volatility i commodity p ices, i cludi g atu al gas a d elect icity; the availability a d te ms of hosti g a a geme ts; egulato y developme ts; a d the othe isks desc ibed i the Compa y’s fili gs with the U.S. Secu ities a d Excha ge Commissio . Reade s a e cautio ed ot to place u due elia ce o fo wa d-looki g stateme ts. The Compa y u de takes o obligatio to update a y fo wa d-looki g stateme t except as equi ed by law.
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