Latest Axp Energy (Asx:Axp) News

AXP Energy has launched its first gas-to-power bitcoin mining operation at its Pathfinder field in Colorado, producing hydrocarbons from a new formation and planning rapid US expansion.

AXP Energy has completed a successful 60-day gas-to-power trial at its Pathfinder Field, delivering 1.5 MW of off-grid power and generating maiden natural gas revenue. The company is accelerating its expansion plans, backed by NASDAQ-listed BitFuFu, aiming to scale operations to 25 MW by year-end.

AXP Energy has secured $1.25 million through a share placement to accelerate its modular data centre rollout powered by stranded natural gas in Colorado. This capital injection aims to support the company’s pioneering gas-to-power operations tied to Bitcoin mining and other high-performance computing applications.

AXP Energy reports a 12% decline in oil production but a 9% revenue increase, driven by strategic gas-to-power initiatives and a new joint development agreement.