(Image via LUXXFOLIO Holdings Inc.)
In a business update released this week, Canadian digital infrastructure provider for bitcoin mining and data hosting operations touted that its mine site was operating at around139 PH/s – a 6% Increase month over month, as of December 31st, 2021.
LUXXFOLIO Holdings Inc. (CSE: LUXX, OTCQB: LUXFF, Forum) also noted Total monthly Bitcoin mined of 22.01 (Dec 2021 = 20.45 Bitcoin).
Bitcoin equivalent reserves at end of month were around 82.6 (78 BTC and 64 ETH) (Dec. 31, 2021= 71.5).
In a
media release on this news for investors, LUXX’s President, President explained that the company’s mining site expansion is nearing completion, including the addition of 2,100 miners by mid-2022.
“With immersion technology, we anticipate this will increase our capacity to 370-395 PH/s. In addition, we are beginning to see miner purchasing opportunities as supply chain improvements continue and inventory levels begin to rise.”
Other highlights included an expansion of the New Mexico mining operation, which continues as scheduled. Groundwork has been completed and all electrical equipment has been delivered to the site. Electrical connections are being finalized with the first phase expansion scheduled to be completed over the next month, coinciding with the next batch of miner deliveries.
Final completion of expansion is scheduled for calendar Q2 of this year, which will increase capacity from approximately 8MW to 15MW.
Estimated Calendar Miner Delivery and Installation Dates:
- Q1 2022: 600 Miners
- Q2 2022: 1100 Miners
- Q3 2022: 300 Miners
LUXX made news earlier this week when it launched a decentralized data storage vertical connected to the Filecoin network.
Filecoin is built with the
InterPlanetary File System, a storage protocol aiming to make the web faster, safer, decentralized, and permanent. The protocol has amassed five billion files since 2015.
For more on this company, its subsidiaries, activities, and its offerings, visit
luxxfolio.com.
FULL DISCLOSURE: :UXXFolio Holdings Inc. is a client of Stockhouse Publishing.