$OLOX is building an energy-to-compute platform and the last 90 days of PRs actually stack
Not financial advice. Tiny cap. Dilution is real. LOIs can die. Read the filings. Then look at what they just put out.
Olenox (NASDAQ: $OLOX) used to be Safe & Green / modular construction. Under McLaren they rebranded and started stitching together gas, behind-the-meter power, bitcoin/high-density compute, and applied AI.
Their own line from the Aug 26 shareholder letter: energy → power → compute → intelligence.
Market cap has been hanging around a couple million while they keep printing platform PRs. That’s why this thing can rip on headlines.
1) CS Digital closed May 26
$30M deal ($14M preferred + $16M note, plus warrants and up to $20M contingent).
What they bought, per the deal coverage:
• digital infrastructure / mining platform
• 35 MW installed capacity
• sellers cited $20.6M 2025 revenue and $6.2M 2025 EBITDA
• CS Digital co-founder Bernardo Schucman (ATL Data Centers → that platform later went into CleanSpark / $CLSK)
• stated target: all-in power under $0.02/kWh on off-grid, gas-powered sites
Stock ripped \~62% after-hours on the close. They’re still hosted at third-party sites for now. The thesis is moving mining onto their own gas.
2) They are already printing BTC
Not “we will mine someday.”
• June + July: \~17 BTC per month average
• they framed that at \~$72k/BTC gross
• May was the first operating update after close (June 2 PR)
• July production PR dropped Aug 20
That’s a live digital-infra run-rate sitting on a microcap.
3) Wildboy + IPD LOI — Aug 19 — this is the juicy one
Non-binding LOI to buy Wildboy Holdings + IPD Industries for \~$20M, mostly preferred + some common/cash. Target close on or before Oct 31, 2026. Independent engineering review already started.
Seller-described assets (they flag this as diligence-gated):
British Columbia (Wildboy)
• gas plant with stated processing capacity up to 144 MMcf/d
• interests tied to 180,000+ acres
• existing wells represented at up to \~18 MMcf/d
• management estimate: that gas could support \~90 MW of gas-fired generation
West Texas / Waha Hub / Delaware Basin (IPD)
• 5,000+ acres near Waha outside Pecos
• fiber, water, substations reportedly 1.5–2.5 km from certain tracts
• QSE / REP / ERCOT market-ops angle
• sellers have floated a long-term generation range of 1–5 GW (not a committed build)
Near-term plan if the deal and engineering clear: evaluate an initial \~20 MW self-hosted bitcoin mining + hosting site. That’s the first step off third-party hosting and onto their own molecules.
If even a sliver of the Waha + BC story survives diligence, this is no longer “old modular co with a mining side hustle.” It’s a stranded-gas-to-AI-power story.
4) PsyLinks — July 13 — the intelligence layer
Closed PsyLinks Neurotech for \~$500k in restricted stock. Two PhDs came in as VP Technology and VP Product Development. Pitch: neuroscience + multimodal sensing + ML + closed-loop systems.
Fits the letter. They’re not just trying to sell electrons. They’re trying to sit on the stack from wellhead to workload.
5) The numbers in the Aug 26 letter
Q2 2026 (three months ended June 30):
• Revenue \~$2.1M, up \~194% vs \~$721k a year ago
• Assets \~$64.2M, up \~78% from YE 2025
• Equity \~$19.4M, up \~155%
Aug 6 they regained Nasdaq periodic-filing compliance. That matters. This name has been one missed filing away from a mess.
Why bulls are loud
AI data centers are power-constrained. Grid interconnects take years. Cheap, dispatchable, behind-the-meter gas is the cheat code every miner and AI-host wants.
$OLOX is trying to own:
1. the gas
2. the generation site
3. the miners / hosts
4. a software/intel layer on top
CS Digital gave them operating compute now.
Wildboy/IPD is the attempt to give them cheap power + land + midstream optionality.
PsyLinks is the “we’re not just a hashrate box” piece.
Q2 shows the balance sheet and top line already moving after CS Digital.
Compare the stated asset stack and BTC run-rate to a micro market cap. That’s the whole trade.