LUXXFOLIO Nearing Completion of Mine Expansion
VANCOUVER, BC – March 3, 2022 – 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 February 2022):
- Bitcoin Mine site operating at ~139 PH/s (Jan. 31, 2022 – 139 PH/s);
- Total monthly Bitcoin mined of 19.70 (Jan 2022 – 22.01 Bitcoin);
- Bitcoin equivalent reserves at end of the month of ~85.3 (83 BTC and 31 ETH) (Jan 31, 2022 – 82.6);
- The first phase of the expansion of the New Mexico mining operation is expected to be completed this month and will add an additional 2MW of capacity. The final completion of the expansion is scheduled to be finished by the end of April, which will take total capacity to 15MW.Miner shipments continue on schedule and capacity will be available to deploy miners when received.
Ken MacLean, President of LUXXFOLIO commented “Our mining site expansion is scheduled to come online in March. With Bitcoin outperforming Gold in the month of February, we are beginning to get a glimpse into the robustness of the Bitcoin network with the volatility in global financial markets increasing”.
Recent Company Highlights
|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)|
|Dec 2021:||LUXXFOLIO closes ~$10 Million Institutional led Bought Deal Financing led by investment banking firm PI Financial (NR Dec. 2, 2021)|
|Dec 2021:||LUXXFOLIO finalizes order for additional 500 Bitmain S19J Pro miners thereby increasing anticipated future hash rate to 360 PH/s (NR Dec. 16, 2021)|
|Jan 2022:||LUXXFOLIO rolls out Decentralized Storage Vertical (NR Jan. 31, 2022)|
Estimated Calendar Miner Delivery Dates
- Q1 2022: 600 Miners
- Q2 2022: 1100 Miners
- Q3 2022: 300 Miners
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.
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For more information, please contact:
Dean Linden, Chief Communication Strategist
Tel: (604) 398-3837
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”, “scheduled to”, 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.