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Highlights
AXP Energy (ASX:AXP) activates Pathfinder #1 well in Colorado to support gas-fueled Bitcoin mining
Partnership with BitFuFu Inc enables natural gas-powered off-grid computing and mining operations
Gas output linked to Vespucci and Pathfinder #2 system powers onsite generators and ASIC miners
AXP Energy (ASX:AXP), listed on the ASX 200, operates in the energy sector and is advancing the integration of natural gas extraction with digital infrastructure. The company has initiated pumping at the Pathfinder #1 well in Colorado, marking its first hydrocarbon production from the Greenhorn Formation in the Florence field. This activity is part of a broader transition into energy-powered computing through the company's newly operational gas-to-power site.
This gas extraction site is now contributing fuel to a fully off-grid electricity generation setup, which is supplying power to a digital mining operation designed to support blockchain-related computing.
Gas Output Supporting Bitcoin Mining Infrastructure
Pathfinder #1 has been connected to the Vespucci and Pathfinder #2 gas gathering system. This infrastructure serves dual roles—collecting natural gas from the well and delivering it to power generators that fuel digital asset mining. The operation relies on consistent natural gas flow to ensure uninterrupted energy supply to high-performance computing machines.
The project repurposes unutilised or stranded gas to fuel application-specific integrated circuit (ASIC) miners. These systems are supplied and operated in partnership with BitFuFu Inc, a firm involved in digital computing applications, including blockchain processing and artificial intelligence workloads.
Collaboration with BitFuFu Inc for Computing Deployment
The initiative between AXP Energy and BitFuFu Inc is focused on expanding the scope of gas-to-power computing operations. At present, three wells are connected to the system, enabling continuous natural gas delivery to two standalone generators. These generators operate ASIC mining units that execute blockchain computations.
The combined effort is designed to utilise remote energy resources without the need for grid connections. This off-grid approach opens new applications for legacy oil and gas assets, transforming them into contributors to emerging tech-driven energy applications.
Operational Viability Demonstrated in Colorado
According to AXP Energy's managing director, the initial site in Colorado has achieved sustained output, validating the operational model. The off-grid power generation system has demonstrated consistent functionality, aligning with the technical requirements of energy-intensive computing infrastructure.
This milestone enables further exploration of additional locations and jurisdictions across the United States. The company plans to scale the model to include more gas wells, extend computing output, and increase total power availability using similar off-grid systems.
Scaling Across New Regions and Enhancing Output
With early success established, AXP Energy is examining new sites to expand energy production and computing output. Discussions are underway to secure faster gas access and accelerate deployment timelines. These efforts aim to significantly elevate total electricity generation to power advanced computing systems, including those needed for blockchain validation and data processing.
The energy sector's integration with computing use cases continues to evolve, with AXP Energy (ASX:AXP) positioned at the intersection of traditional energy production and advanced technology applications. The ASX 200 index reflects this growing interplay as resource-based firms adapt infrastructure for digital operations.
