AXP Energy Expands Gas-to-Power Bitcoin Mining Operations

AXP Energy Limited (ASX: AXP) has commenced expanding its gas-to-power Bitcoin mining operations by establishing a second production hub at the JW Powell well site in Colorado. This follows the successful launch of a 1.5 MW/hour mining operation utilizing stranded gas from the Pathfinder#2 and Amerigo Vespucci wells.

The company remains on track to achieve 25 MW/hour of power generation by the end of 2025 in partnership with BitFuFu, Inc. Two additional generators, sourced from supplier Gentech, are set to arrive in Colorado within two weeks, adding 1.75 MW/hour of power. Once permits are secured, the JW Powell site will be operational by late May or early June. This expansion represents AXP's significant new revenue stream, complementing its core oil production and sales. The company aims to leverage its stranded gas assets for efficient power generation, while its partnership with BitFuFu strengthens its position in the Bitcoin mining sector. Results from ongoing operations will provide further insights into the financial potential of scaling up to 25 MW/hour.

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