Terrahash rebrands to TerraHex, secures 18MW energy deal to power Bitcoin and AI in Nigeria

Terrahash, a clean-energy Bitcoin mining and high-performance computing company, has rebranded to TerraHex Digital Assets Corp (TerraHex) as it advances power agreements and bolsters its board with expertise in energy, finance, law, and operations. The rebrand and partnerships position the firm for initial deployment ahead of Bitcoin 2026.

Founded in 2025 by Nigerian entrepreneur OluMayowa Ogunnusi, TerraHex focuses on building low-cost compute infrastructure using stranded or underutilised power in frontier energy markets. The company employs a Power-for-Equity model, where it provides capital, equipment, and operational know-how, while energy partners contribute power assets in exchange for equity in site-specific ventures.

This approach generates dual revenue streams: Bitcoin mining, which monetises power from the first megawatt, and right-sized AI compute workloads, including enterprise inference, fine-tuning, and large-scale batch training. The company deploys modular, containerised high-performance computing systems alongside gas-powered generation to convert wasted energy into productive digital infrastructure. 

The name change and partnership

The new name, TerraHex, reflects the company’s evolving ambitions. In Bitcoin, transaction hashes, block hashes, and addresses use hexadecimal notation, the same foundational language used in modern computing systems powering AI. Replacing “hash” with “hex” bridges the firm’s Bitcoin mining roots with its broader infrastructure and AI compute future.

The company has reached heads of terms with Shoreline Power for a proposed joint venture at facilities in Afisiere, OML 30, Delta State, Nigeria. The arrangement would deploy and operate high-performance computing and digital infrastructure at the site, serving as the proof-of-concept node.

The deal brings the secured power capacity for initial deployment to 18 MW, with potential for significant scaling upon successful execution. Nigerian operations will run through a dedicated operations and management vehicle, with Templars acting as legal and regulatory counsel.

Toks Abimbola, Director of Business Development at Shoreline, welcomed the collaboration: “This is the kind of opportunity that stands out because it brings together timing, infrastructure and a clear commercial model. TerraHex is approaching that opportunity with discipline, and we are pleased to support the next phase of the project.”

TerraHex’s corporate structure and governance

TerraHex operates via a three-tier structure: a Delaware parent company, a wholly owned UAE holding company, and majority-owned special purpose vehicles (SPVs) at each site, with power partners holding minority equity. This setup supports cross-border operations while aligning incentives locally.

To strengthen oversight, the company has established a board and observer structure drawing on deep experience in energy, infrastructure, finance, law, digital assets, and international growth. 

The board includes:

• OluMayowa Ogunnusi: Director and Oil & Gas Executive (CEO and Founder)
• Patrick J. Sweeney: Director and Data Centre Specialist (Board Chair)
• David Saab: Independent Director, former JP Morgan MD
• Emily Chang: Director and Global Commercial Leader
• Dayo Okusami: Director, Partner at TEMPLARS
• Ali Safieddine: Director, Energy and Finance Executive
• Odunoluwa Longe: Director, Venture Law Attorney at TLP Advisory

The diverse expertise addresses the complexities of developing digital infrastructure in frontier markets, from energy regulation and fixed income to venture law and data centre operations.

OluMayowa Ogunnusi, CEO of TerraHex, said:

“TerraHex reflects the direction the business is taking and the scale of what we are building. As digital infrastructure, energy, and bitcoin-linked compute become more closely linked, we are putting the right partnerships, structure and governance in place to build with a long-term view. Our focus now is on turning that foundation into disciplined deployment across the markets where we see the strongest potential.”

Patrick J. Sweeney, Board Chair, added: “In this sector, a lot comes down to the quality of the fundamentals. TerraHex is starting with clean power access and an agile operating structure, which is exactly where the focus should be if the business is going to scale quickly to serve the market. The next step is to execute well at the site level and build from there with discipline and integrity. I am pleased to be part of that journey.”

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The move comes as Bitcoin mining and AI compute increasingly converge with energy infrastructure. By targeting stranded power, particularly associated gas in oil-producing regions, TerraHex aims to deliver economically viable, environmentally conscious compute capacity in markets like Nigeria, where underutilised energy resources abound.

The company is now prioritising execution of its proof-of-concept deployment while laying commercial, legal, and governance foundations for longer-term expansion as it position itself at the intersection of clean energy, Bitcoin, and high-performance computing in emerging markets.