Commencement of On-Site Power & Issue of Warrants
Summary by AI BETAClose X
29 July 2026
Sterling Digital plc
("Sterling" or the "Company")
Commencement of On-Site Power Generation
&
Issue of Warrants
Sterling Digital plc (AQSE: ASIC), a company established to develop low-energy-cost digital asset mining operations in the United States, is pleased to announce the successful commencement of on-site electricity generation at its West Texas site.
Following the installation of the equipment at the West Texas site announced on 12 June 2026, the Company's two 2 MW Caterpillar natural gas generators were started over the weekend and are now running as part of the commissioning programme. Power is generated from the offtake of underutilised, economically stranded natural gas in the WAHA pipeline in West Texas, secured under a five-year Gas Purchase Agreement, announced on 8 June 2026, and converted to electricity using the Company's proprietary energy optimisation infrastructure.
Figure 1: Sterling's 2 MW Caterpillar gas generator
The generators have completed initial start-up and are undergoing fine-tuning and control-system calibration to optimise their performance, reliability and fuel efficiency prior to connection of the Company's ASIC mining servers. This includes verification of fuel, cooling, lubrication and electrical systems, calibration of engine controls and protective relays, and load testing to optimise combustion, voltage, frequency and load stability.
Once commissioning is complete, each generator will deliver approximately 1.6 MW net power, together powering 420 ASIC mining servers, representing approximately 193,500 terahashes per second (TH/s) of computing capacity.
Following validation of the power generation systems, the miners will be connected and brought online in controlled stages, with the objective of maximising system stability, operating efficiency and uptime from the outset.
Stefan Michaelides, CEO of Sterling Digital, commented:
"This is an important operational milestone for Sterling. For the first time, we are generating our own electricity in West Texas, utilising ultra low-cost surplus natural gas and turning months of planning, procurement and engineering into operating energy infrastructure.
Our site team and contractors have worked exceptionally hard to deliver this progress in demanding West Texas conditions.
With the generators live, our focus now shifts to final optimisation and the careful integration of the mining fleet.
Margins in Bitcoin mining are won on the cost of energy. Sterling's low-cost energy solution is laying the foundation for industry-leading profitability."
Issue of Warrants
Further to the above, the Company announces that it has issued 501,000 warrants over ordinary shares in the Company to a contractor in partial lieu of payment, at the contractor's request (the "Warrants"). The Warrants have an exercise price of 6 pence per ordinary share, vest immediately on grant and expire five years from the date of issue.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information, please visit www.sterlingdigital.com or contact:
|
Sterling Digital Plc: |
+44 (0) 20 3807 1698 |
|
Guy Winterflood Non-executive Chairman |
|
|
|
|
|
Cairn Financial Advisers LLP |
+44 (0) 20 7432 0501 |
|
AQSE Corporate Adviser |
|
|
Jo Turner / Liam Murray / Ed Downes |
|
|
|
|
|
Oak Securities |
+44 (0) 20 3973 3678 |
|
Broker |
|
|
Damion Carruel / Calvin Man |
|
|
|
|
|
Vigo Consulting |
|
|
Investor Relations Patrick d'Ancona / Ben Simons / Amelia Thorn / Safia Colebrook |
+44 020 7390 0230 ir.sterlingdigital@vigoconsulting.com
|
About Sterling Digital plc
Sterling Digital plc (AQSE: ASIC) is developing low-energy-cost Bitcoin mining operations in the United States, using modular infrastructure and gas-to-energy generation to convert underutilised energy into productive compute.
The Company's initial focus is on West Texas which benefits from significant energy resources, established infrastructure, and constrained gas markets, creating an opportunity to convert underutilised gas into productive computing power.
Sterling has entered into a five-year gas purchase agreement for natural gas supply, including surface-use rights, in Martin County, West Texas. The agreement secures access to up to 6,500 MMBtu per day and is expected to support up to 25 MW of computing capability. Initially, the Company's two owned 2 MW Caterpillar natural gas generators will deliver approximately 1.6 MW net power, together powering Sterling's current fleet of 420 ASIC mining servers, representing approximately 193,500 terahashes per second (TH/s) of computing capacity.
Visit our website: https://sterlingdigital.com/
Follow us on social media:
LinkedIn: https://www.linkedin.com/company/sterling-digital-plc/
X: https://x.com/SterlingASIC
Forward Looking Statements
Certain statements in this announcement are, or may be deemed to be, forward-looking statements. Forward looking statements are identified by their use of terms and phrases such as "believe", "could", "should", "envisage'', "estimate", "intend", "may", "plan", "potentially", "expect", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward-looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 day ago Close Brothers Group
- 1 day ago Savannah Energy
- 1 day ago Mid Wynd International Inv Trust
- 1 day ago Dillistone Group
- 1 day ago SSP Group