DUG Technology (ASX:DUG) has provided an update on its operations, highlighting its secured $24M in new services projects in the first five months of the financial year.

DUG Technology says the figure is up 380% to the previous corresponding period; material increase to the entire FY22 services revenue of US$23.7M.

It also says compute and storage investment was completed to meet workload increases in both the oil and gas industries and new industries targeted.

DUG Technology also highlighted its global compute power across its three facilities in Perth, Houston, and Kuala Lumpur now exceeds 30 petaflops.