Olenox Industries (NASDAQ: OLOX) has outlined a three-phase strategy to expand its Bitcoin mining operations by developing lower-cost, self-generated electricity, potentially relocating existing mining equipment and increasing its fleet from approximately 9,700 to 20,000 miners.
The company is evaluating its Wildboy natural-gas platform in British Columbia and its Pecos-area energy platform in Texas as potential sites for power generation and mining operations.
Olenox is targeting a 75% reduction in electricity costs.