The two companies agree to merge with CS Digital receiving $55 million in an all-stock transaction to combine Olenox’s energy expertise and CS Digital’s Bitcoin mining expertise. The combined company will aim to develop off-grid mining and AI data center initiatives closer to power plants.
Important points:
- Olenox announced a potential $55 million merger with CS Digital Ventures to expand off-grid Bitcoin mining.
- The deal targets the third era of Bitcoin mining reaching $0.02 per kWh using off-grid data centers.
- In 2026, the combined entity will integrate Olenox’s energy tools to lead off-grid Bitcoin mining.
Olenox merges with Brazil’s CS Digital for low-cost Bitcoin mining and AI data center opportunities
Bitcoin mining could be revived as companies adopt new and unconventional approaches to maximize the performance of their investments while reducing operating costs.
Olenox, a Nasdaq-listed company that provides oil and gas energy services and other energy technologies, has announced a potential merger with CS Digital Ventures, a company that provides custom Bitcoin mining and artificial intelligence (AI) solutions.
The merger, which values CS Digital Ventures at $55 million, is expected to be completed in several installments and heralds what CS Digital CEO Bernardo Schucman calls “the third era of Bitcoin mining.”
Explaining the meaning of this term, he declared:
“We believe 2026 may mark the beginning of a new phase, where large-scale developments of off-grid data centers will be built near energy generation points, with the potential to generate and utilize electricity at costs close to $0.02 per kWh under certain conditions.”
These affordable energy rates are possible because we operate in energy-reduced environments and locations where transmission infrastructure to transport power to the grid does not exist.
“Our partnership with Olenox is aimed at pursuing that opportunity and building what we believe can be a leading platform in the expansion of off-grid mining. Our ambitions are significant, and so are the opportunities before us.” Schucman concluded:
Efforts of this kind are currently proliferating, with Itau, one of Brazil’s largest banks, recently investing in Minter, which also designs and operates mobile Bitcoin mining solutions at energy generation sites. However, the combined Olenox and CS Digital company has an advantage, as the combination of Olenox’s energy platform and CS Digital’s capabilities unifies the energy generation tasks in the equation.
