Entrex

What Entrex does

Entrex (OTC: NTRX), legally Entrex Carbon Market, Inc., is a Florida-domiciled public data center acquisition company. It acquires operating data centers with verified uptime and cash flow from small independent operators and consolidates them into a single public platform for liquidity and scale, retaining the original operators on-site after closing. The company's stated underlying technology stack consists of Bitcoin mining data centers powered by low-cost stranded natural gas drawn from approximately 450 wells across Oklahoma and Colorado (Anchor Oklahoma and Colorado bolt-on acquisitions, both at the LOI stage as of early 2026). Planned deployment covers 244 Bitcoin mining units (142 in Oklahoma, 102 in Colorado) and the firm promotes a standardized single-asset LLC acquisition structure at a 4x EBITDA multiple for verified annualized cash flow, contrasting its model explicitly with projection-driven crypto investments.

The business is a financial-asset roll-up operating through acquisition-driven execution. Revenue mechanics are described in two ways: (i) consolidating the cash flow of acquired, fully operating data centers into a public vehicle ("we own the infrastructure, we do not speculate"), and (ii) deploying Bitcoin mining units on newly acquired natural gas assets with stated incremental annual EBITDA of $1.55M (Oklahoma) and $1.11M (Colorado). Go-to-market is multi-pronged: direct outreach to independent data center developers via a Developer Partnership Program that pays 4x EBITDA for proven units (Design-Deliver-Deposit-Repeat); investor relations outreach to institutional and retail investors emphasizing asset-backed cash flow; and a separately launched Entrex EB-5 Investment Initiative targeting foreign capital with initial financings expected in early 2026. Customer segments are therefore three-sided: data center developers (supply side), investors (capital side), and EB-5 foreign investors (specialized capital side). The company is led by CEO Stephen H. Watkins and VP of Finance and Strategy Matthew Henderson, with 1-10 disclosed employees, and is publicly traded on OTC markets.

Name

Entrex

Legal name

Entrex Carbon Market, Inc.

Website

https://entrex.net

Company type

Public

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Entrex Carbon Market, Inc. (OTC: NTRX) is a Florida-based public data center acquisition company that consolidates operating Bitcoin mining data centers powered by stranded natural gas into a single public platform for independent developers and investors.

Ownership category

akta.pro rank

Product category

Data Center Investment & Acquisition

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

Centralized Crypto Exchanges (CEX) (FSAPADAA)

Keywords

• Data center acquisition
• Bitcoin mining operations
• Stranded natural gas
• EB-5 investment program
• Infrastructure consolidation

Headquarters

HQ city

Boca Raton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Data Center Cash Flow Consolidation: NTRX acquires operating data centers that generate proven cash flow and consolidates their earnings into a public company. The company buys real earnings at disciplined private-market multiples, generating recurring revenue from the toll-like nature of owning productive data center infrastructure.
2. Natural Gas Asset EBITDA: Acquisition of producing natural gas assets in Oklahoma and Colorado covering approximately 450 wells, providing low-cost energy for Bitcoin mining infrastructure. Anchor Oklahoma acquisition expected to generate $1.55 million in incremental annual EBITDA with $31 million in gas reserve net present value. Colorado bolt-on adds $1.11 million in incremental annual EBITDA with $22 million in gas reserve net present value.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Entrex (NTRX) is a public data center acquisition company that identifies and acquires operating, cash-flowing data centers from independent developers and consolidates them into a single public platform under the ticker NTRX. The acquired units are powered by low-cost stranded natural gas and run Bitcoin mining workloads, with original operators retained on-site to keep the facilities running. Entrex also operates the Entrex EB-5 Investment Initiative, which channels foreign capital into U.S. natural gas-to-Bitcoin mining projects as a qualifying investment for EB-5 visas.

Product overview

Entrex (NTRX) operates as a data center acquisition company that acquires proven, cash-flowing data centers from independent operators and consolidates them into a public company for liquidity and scale. The core offering is the NTRX Data Center Acquisition Platform, which buys verified cash-flowing data centers at disciplined multiples while keeping original operators on-site. Supporting this is the Entrex EB-5 Investment Initiative for foreign capital deployment and Natural Gas Asset Acquisitions in Oklahoma and Colorado that provide low-cost stranded gas energy for Bitcoin mining operations. The model combines tangible energy and computing infrastructure with transparent performance tracking, targeting EBITDA-producing assets across fragmented independent operator markets.

Differentiator

Problem solved

Functional benefit

Products and services

• NTRX Data Center Acquisition Platform
• Entrex EB-5 Investment Initiative
• Natural Gas Asset Acquisitions (Oklahoma & Colorado)

Quantifiable outcome

• Operating costs reduced to fraction of grid electricity through stranded natural gas power
• +4 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Hanover International InccoreStrategic or Co-development Partner · 3 March 2026Strategic advisory partnership with Hanover International Inc to enhance Entrex's capital markets platform and advance long-term value creation. The partnership was facilitated through the National Investment Banking Association, where both firms have longstanding involvement spanning two decades. Entrex aims to leverage Hanover's capital markets expertise, institutional relationships, and advisory track record to strengthen its ecosystem, expand its financial community reach, and execute growth initiatives more effectively.
• National Investment Banking AssociationcoreStrategic or Co-development PartnerFacilitated the strategic advisory partnership between Entrex and Hanover International Inc. Both firms have longstanding involvement in NIBA spanning two decades.
• Noble Capital MarketsminorGTM or Marketing PartnerCEO Stephen H. Watkins participated in NobleCon, Noble Capital Markets' Annual Investor Conference, presenting company developments in environmentally beneficial power production, methane mitigation, Bitcoin mining, and foreign investment programs.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• CleanSpark:
• Marathon Digital Holdings: One of the largest publicly traded Bitcoin miners in North America, pursuing low-cost and vertically integrated power sources. Directly comparable as a public BTC mining platform with similar energy-cost-driven thesis.
• Stronghold Digital Mining: Public Bitcoin miner that converts waste coal—an underutilized, low-cost fossil fuel analogous to stranded natural gas—into power for mining operations. The closest conceptual analog to Entrex's stranded-fuel-to-mining thesis.
• Cipher Mining: Public Bitcoin miner that emerged via roll-up/SPAC combination, focused on industrial-scale mining in Texas with low-cost power. Directly comparable for the public-company roll-up-and-scale playbook.
• Riot Platforms: Vertically integrated public Bitcoin miner operating large-scale mining infrastructure in Texas with proprietary power strategies. Comparable to Entrex as a public BTC miner differentiated by captive, low-cost energy.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Entrex