LUXXFOLIO Records
Record Month of $1.8 Million in Mining Revenues 30% Increase in BTC
Equivalent Reserves
VANCOUVER, BC - December 2,
2021 -- InvestorsHub
NewsWire -- LUXXFOLIO Holdings Inc. (the "Company" or "LUXXFOLIO")
(CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH) a
vertically-integrated digital asset company announces the following
operational update:
Mining Overview (as at or for
the month of November 2021):
-
Bitcoin Mine site operating at ~131
PH/s: 6.5% MoM Increase (Oct. 31, 2021: 123
PH/s);
-
Total monthly rewards of 23.5
Bitcoin for approximate revenues of CAD$1,788,000 (Oct 2021 =
CAD$1,600,000);
-
Total Q1 2022 Fiscal Quarterly
Revenue of approximately CAD$4.23 Million (~60 BTC
Mined);
-
Bitcoin equivalent reserves at end
of month of ~54.5 (50 BTC and 52 ETH) (Oct. 31, 2021:
42);
-
Revenues exclude any adjustment for
valuation changes in BTC or ETH.
"We continue to accelerate our
revenues through effective mine management and steadily grow our
Bitcoin and Ethereum reserves through effective balance sheet
management in order to maximize the enterprise value of the
business," said Kien Tran, COO of the LUXX Mining Division. "As
well, we welcome our new Ethereum operation that has integrated
nicely into our enterprise mine management
solution."
Recent
Company Highlights
|
Date
|
Milestones
|
|
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 deliver 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)
|
|
Nov 2021:
|
LUXXFOLIO Procures
Immersion-Cooling for Crypto Mining Operations with anticipated 25%
Increase in Hash Rate (NR
Nov. 10, 2021)
|
|
Nov 2021
|
LUXXFOLIO accepts early delivery of
an additional 100 Miners (total of 735 early deliveries) resulting
in a Hash Rate increase of 162% since Sept. 1 2021 (NR
Nov. 16, 2021)
|
|
Nov 2021:
|
LUXXFOLIO closes acquisition of
Ethereum mining operation (NR
Nov. 27, 2021);
|
Estimated
Calendar Miner Delivery Dates
Q4 2021: 190 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 running off mostly 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.