Ole ox is ta geti g a expa sio f om app oximately 9,700 to 20,000 mi e s — mo e tha doubli g its fleet — suppo ted by its st ategy to develop lowe -cost, self-ge e ated powe . Expa sio emai s subject to its ability to aise substa tial fi a ci g, powe availability, equipme t p ocu eme t a d p oject executio .
Buildi g o its ece t acquisitio s, Ole ox is evaluati g its Wildboy atu al-gas platfo m i B itish Columbia a d its Pecos-a ea e e gy platfo m i Texas as pote tial locatio s fo self-ge e ated powe a d mi i g deployme ts. If feasible, the pla would co ect the Compa y’s expa di g e e gy platfo m with its established mi i g busi ess, c eati g a path to captu e mo e value f om both.
Ole ox is ta geti g a elect icity ate of app oximately $0.015 pe kilowatt-hou (“kWh”), compa ed with app oximately $0.06 pe kWh u de its cu e t ope ati g a a geme ts. If achieved o a compa able, all-i delive ed-cost basis, the ta get would ep ese t a 75% eductio i the elect icity ate — a pote tial ope ati g adva tage the Compa y i te ds to pu sue ac oss its existi g fleet a d futu e deployme ts.
“Ou st ategy has bee to b i g e e gy esou ces, powe ge e atio a d computi g togethe withi Ole ox. This pla outli es how we i te d to put those capabilities to wo k,” said Mike McLa e , Chai ma a d Chief Executive Office of Ole ox. “Ou fi st p io ity is to establish lowe -cost powe , the pote tially elocate existi g mi e s to that powe supply a d look to build o that fou datio to expa d the fleet. That co ectio betwee ou e e gy busi ess a d ou computi g ope atio s is ce t al to the lo g-te m value we a e wo ki g to c eate.”
The Compa y’s pla is st uctu ed i th ee phases. The fi st focuses o establishi g access to lowe -cost, self-ge e ated elect icity th ough Ole ox’s e e gy platfo ms. The Compa y is evaluati g ge e atio equipme t, fuel supply, i f ast uctu e equi eme ts a d site eadi ess to dete mi e the most att active deployme t locatio s a d validate the complete cost of delive i g powe to its mi i g ope atio s.
The seco d phase i volves possibly elocati g eligible mi i g equipme t cu e tly ope ati g i Texas to sites supplied by that lowe -cost powe . The objective is to apply the ta geted powe -cost adva tage to Ole ox’s existi g fleet, st e gthe i g the ope ati g fou datio fo futu e g owth. Relocatio decisio s will depe d o powe availability, i f ast uctu e eadi ess, elocatio expe ses a d ove all ope ati g eco omics.
The thi d phase focuses o expa di g the fleet towa d 20,000 mi e s, buildi g o the powe i f ast uctu e established i the ea lie phases. The Compa y i te ds to deploy additio al machi es whe e Compa y-co t olled e e gy esou ces ca suppo t competitive ope ati g costs.
The Compa y’s ability to execute o a y of the th ee phases is co ti ge t upo a va iety of facto s, i cludi g, but ot limited to, aisi g substa tial fu ds, dete mi i g powe availability, the ability to pu chase the ecessa y equipme t, a d successfully impleme ti g each step ecessa y to achieve the desi ed esult.
Ge e ati g elect icity at o ea the mi i g site, commo ly efe ed to as “behi d-the-mete ” ge e atio , could educe exposu e to ce tai g id- elated cha ges a d p ovide g eate co t ol ove powe supply. Fo Ole ox, the app oach would also c eate a additio al use fo its atu al-gas esou ces, co ecti g e e gy p oductio di ectly with computi g dema d.
The co templated mi i g powe capacity is ot bei g ep ese ted as cu e tly ope atio al o available. I o de to ge e ate the co templated mi i g powe capacity, the Compa y eeds to add a d deploy e ough ge e ato s to i c ease total capacity to 75 MW. The e is o gua a tee the Compa y will be able to achieve a y o all of these p e equisites. The $0.015-pe -kWh elect icity ate a d 20,000-machi e fleet a e ta gets, ot achieved ope ati g esults. The ta geted 75% eductio applies to the elect icity ate a d does ot ep ese t a co espo di g i c ease i p ofitability. Actual eco omics will depe d o fuel costs, ge e atio efficie cy, equipme t a d i f ast uctu e i vestme t, mai te a ce, elocatio expe ses, uptime a d othe ope ati g equi eme ts.
Ole ox I dust ies I c. (NASDAQ:OLOX) is a i teg ated e e gy a d i f ast uctu e compa y focused o acqui i g, developi g a d ope ati g assets ac oss the oil a d atu al gas, e e gy se vices, powe ge e atio , modula i f ast uctu e a d digital-compute secto s. Th ough its subsidia ies, Ole ox is buildi g a ve tically i teg ated platfo m desig ed to co ect e e gy esou ces with powe -i te sive i f ast uctu e while delive i g e gi ee ed a d modula solutio s ac oss i dust ial ma kets.
Ce tai stateme ts co tai ed i this p ess elease co stitute “fo wa d-looki g stateme ts” withi the mea i g of the fede al secu ities laws. Wo ds such as “may,” “might,” “will,” “should,” “believe,” “expect,” “a ticipate,” “estimate,” “co ti ue,” “p edict,” “fo ecast,” “p oject,” “pla ,” “i te d,” “pote tial” o simila exp essio s ge e ally ide tify fo wa d-looki g stateme ts.
These fo wa d-looki g stateme ts i clude, without limitatio , stateme ts co ce i g the impleme tatio a d seque ci g of the Compa y’s th ee-phase st ategy; ta geted elect icity ates a d pote tial cost eductio s; the elocatio of mi i g equipme t; expa sio towa d a fleet of 20,000 mi e s; the developme t a d availability of behi d-the-mete powe ge e atio ; the a ticipated be efits a d i teg atio of acqui ed assets; the developme t of gas-powe ed digital i f ast uctu e; a d the Compa y’s futu e busi ess, ope atio s a d fi a cial pe fo ma ce.
Fo wa d-looki g stateme ts a e based o cu e t estimates, expectatio s a d assumptio s a d a e subject to isks a d u ce tai ties that could cause actual esults to diffe mate ially. These isks i clude, amo g othe s, volatility i Bitcoi p ices a d etwo k difficulty; cha ges i mi i g eco omics; the availability, cost a d eliability of atu al gas a d elect ical powe ; ge e atio efficie cy; equipme t pe fo ma ce a d fleet utilizatio ; i f ast uctu e a d elocatio costs; pe mitti g a d co st uctio equi eme ts; the availability a d te ms of fi a ci g; the Compa y’s ability to i teg ate acqui ed assets a d execute its g owth st ategy; egulato y developme ts; the Compa y’s ability to mai tai complia ce with Nasdaq listi g equi eme ts; a d othe isks desc ibed i the Compa y’s fili gs with the Secu ities a d Excha ge Commissio , i cludi g its most ece t A ual Repo t o Fo m 10-K a d subseque t epo ts filed with the SEC.
Reade s a e cautio ed ot to place u due elia ce o fo wa d-looki g stateme ts. The i fo matio i this elease is p ovided o ly as of its date, a d Ole ox 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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