LUXXFOLIO
Achieves 103% Month over Month Increase in Mining
Revenues
24% Increase in
BTC Reserves
VANCOUVER, BC -
November 1, 2021 -- InvestorsHub NewsWire -- LUXXFOLIO Holdings Inc. (the "Company" or
"LUXXFOLIO") (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH) announces the
following operational update:
Mining Overview
(as at or for the month of October 2021):
-
Mine site operating 1,300 miners at
~123 PH/s (Sept. 30, 2021 = 1,025 miners at 95 PH/s);
-
An additional 275 miners installed
during the month;
-
Total monthly rewards of 22.5
Bitcoin for approximate revenues of CAD$1,625,000 (Sept. 2021 =
CAD$800,000);
-
Bitcoin reserve at end of month of
~42 Bitcoin (Sept. 30, 2021 = 34).
"The acceleration of miner
deliveries and our strong operational team in New Mexico has
significantly expanded our recent hash rate performance," said Kien
Tran, COO of the LUXX Mining Division. "We are fortunate to be
operating in the heart of the Navajo Nation, who provide a
dedicated and skilled workforce required for a successful Bitcoin
mining operation".
Find LUXXFOLIO at
the World Digital Mining Summit in Dubai
LUXXFOLIO executives will attend
the World Digital Mining Summit in Dubai, hosted by Bitmain, from
November 9 - 10, 2021. "We look forward to engaging with other
leaders in the digital asset community and staying current with the
latest developments in the community," said LUXX Mining Division
President Ken MacLean.
Parties interested in arranging a
meeting with the LUXXFOLIO team at the World Digital Mining Summit
are invited to contact Ken MacLean at kmaclean@luxxfolio.com
Recent
Company Highlights
|
Date
|
Milestones
|
|
Dec 2020:
|
LUXXFOLIO orders 590 Avalon
miners (NR
Dec. 24, 2020);
|
|
May 2021:
|
LUXXFOLIO orders 2400 Bitmain S19J
Pro miners (NR
May 3, 2021);
|
|
Jun 2021:
|
LUXXFOLIO completes acquisition of
industrial scale crypto mining operation (NR
Jun. 15, 2021);
|
|
Jul 2021:
|
LUXXFOLIO receives and installs 590
Avalon miners (NR
Jul. 19, 2021);
|
|
Aug 2021:
|
LUXXFOLIO announces expansion to
increase capacity from 8MW to 15 MW (NR
Aug. 12, 2021);
|
|
Aug 2021:
|
LUXXFOLIO reinvests price rebate
and installs an additional 100 Bitmain S19J Pro miners
(NR
Aug. 4, 2021);
|
|
Sep 2021:
|
LUXXFOLIO enters into agreement to
acquire Ethereum mining operation (NR
Sep. 7, 2021);
|
|
Sep 2021:
|
LUXXFOLIO enters into swap
agreement on 600 miners and receives early delivery on 300
(NR
Sep. 20, 2021);
|
|
Sep 2021:
|
LUXXFOLIO DTC application approved
(NR
Sep. 23, 2021);
|
|
Oct. 2021:
|
LUXXFOLIO accepts early delivery of
an additional 75 Miners (total of 675 early deliveries) resulting
in a Hash Rate increase of 144% since Sept. 1 2021 (NR
Oct. 14, 2021).
|
|
Oct. 2021
|
LUXXFOLIO confirms order for
additional 500 Bitmain S19J Pro miners thereby increasing
anticipated future hash rate to 360 PH/s (NR
Oct. 21, 2021)
|
Estimated
Calendar Miner Delivery Dates
-
Q4 2021: 225 Miners
-
Q1 2022: 600 Miners
-
Q2 2022: 1100 Miners
-
Q3 2022: 300 Miners
About
LUXXFOLIO
LUXXFOLIO Holdings Inc. is a publicly
traded vertically-integrated digital asset company based in Canada.
We operate an industrial scale cryptocurrency mining facility in
the United States, powered primarily by renewable energy, with a
focus on the blockchain ecosystem and generation of digital assets.
LUXXFOLIO provides a liquid alternative for exposure to digital
assets for the broader capital markets.
Follow us
on:
-
Twitter
at
LuxxfolioH
-
The
Company diligently posts updates through videos from the official
company YouTube channel at:
YouTube Channel
-
Please
join the conversation on our LUXXFOLIO Holdings supporter's
Telegram group at:
https://t.me/Luxxfolio
Contact
Information:
For more information, please
contact:
Dean Linden, Chief Executive
Officer
Tel: (604) 398-3837
Email: dlinden@luxxfolio.com
www.luxxfolio.com
The CSE has not reviewed and does
not accept responsibility for the adequacy or accuracy of this
release.
Certain information contained
herein may constitute "forward-looking information" under Canadian
securities legislation. Generally, forward-looking information can
be identified by the use of forward-looking terminology such as
"anticipated", "will be", or variations of such words and phrases
or statements that certain actions, events, or results "will"
occur. Forward-looking statements regarding the Company, its
hosting operations, miners, and the Company's development of its
growth strategy are based on the Company's estimates and are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of the Company and its subsidiary to be materially
different from those expressed or implied by such forward-looking
statements or forward-looking information, including capital
expenditures and other costs. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. The
Company will not update any forward-looking statements or
forward-looking information that are incorporated by reference
herein, except as required by applicable securities
laws.