LUXXFOLIO Holdings (LUXX) has signed the Crypto Climate Accord supporting environmentally sustainable digital asset mining.
"Cryptocurrency is a transformative technology that will alter the landscape of our future financial system," said LUXXFOLIO CEO Dean Linden.
"At the same time, we have a responsibility to ensure that the future we're creating is sustainable. That's why we are proud to be joining the Crypto Climate Accord and be working to establish a cleaner, greener direction for digital assets."
The Crypto Climate Accord is a private sector-led initiative inspired by the Paris Climate Agreement. With dozens of signatories including NGOs and representatives of the crypto, energy, and technology sectors, the Accord has set a target of 100 per cent renewable-driven crypto activity for its members by 2025.
"We have been long-time believers in the importance of sustainable cryptocurrency operations," said Ken MacLean, President of the LUXX Mining Division.
"Through our partnership with the Navajo Tribal Utility Authority ("NTUA"), we are able to access some of the most affordable and environmentally friendly energy in the world. We look forward to expanding that partnership as members of the Crypto Climate Accord, and we encourage crypto companies everywhere to consider how they can operate as sustainably as possible."
The LUXX Mining Division is currently undergoing an expansion that will double its power capacity and provide more mining capability. This expansion will continue to use sustainable power provided by the NTUA while expanding benefits such as local revenue and employment for members of the Navajo Nation.
LUXXFOLIO is a CSE-listed company based in Canada that is a vertically integrated digital asset company.
LUXXFOLIO Holdings Inc. (LUXX) opened trading at C$0.37 per share.