VANCOUVER, BC, Nov. 16, 2021 /CNW/ - LUXXFOLIO Holdings Inc. (the "Company" or "LUXXFOLIO") (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH) a vertically-integrated digital asset company, announces it has acquired and accepted delivery of an additional 100 Bitmain S19J Pro Miners ("Miners").
LUXXFOLIO's mine site is now operating at a total production rate of 131 PH/s, an increase in hash rate of 6.5% since the beginning of November. At current mining rates, LUXXFOLIO is earning approximately 22-24 Bitcoin per month from its mining operations. This increases our projected mining capacity to 366 PH/s by mid 2022.
Kien Tran, COO of LUXX Mining Division commented, "We are making adjustments every day to improve mining capacity and act on any opportunity to put more miners to work and increase our monthly Bitcoin production."
Recent Company Highlights
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Date
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Milestones
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Dec 2020:
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LUXXFOLIO orders 590 Avalon miners (NR Dec. 24, 2020);
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May 2021:
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LUXXFOLIO orders 2400 Bitmain S19J Pro miners (NR May 3, 2021);
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Jun 2021:
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LUXXFOLIO completes acquisition of industrial scale crypto mining operation (NR Jun. 15, 2021);
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Jul 2021:
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LUXXFOLIO receives and installs 590 Avalon miners (NR Jul. 19, 2021);
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Aug 2021:
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LUXXFOLIO announces expansion to increase capacity from 8MW to 15 MW (NR Aug. 12, 2021);
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Aug 2021:
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LUXXFOLIO reinvests price rebate and installs an additional 100 Bitmain S19J Pro miners (NR Aug. 4, 2021);
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Sep 2021:
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LUXXFOLIO enters into agreement to acquire Ethereum mining operation (NR Sep. 7, 2021);
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Sep 2021:
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LUXXFOLIO enters into swap agreement on 600 miners and receives early delivery on 300 (NR Sep. 20, 2021).
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Sep 2021:
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LUXXFOLIO DTC application approved (NR Sep. 23, 2021)
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Oct. 2021:
Oct. 2021:
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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).
LUXXFOLIO confirms order for additional 500 Bitmain S19J Pro miners thereby increasing anticipated future hash rate to 360 PH/s (NR Oct. 21, 2021)
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Oct 2021:
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LUXXFOLIO Procures Immersion-Cooling for Crypto Mining Operations with anticipated 25% Increase in Hash Rate (NR Nov. 10, 2021)
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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.
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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 "projected", "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.
SOURCE Luxxfolio Holdings Inc.
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