LUXXFOLIO Records a 31% Increase in BTC Equivalent Reserves
VANCOUVER, BC, Jan. 4, 2022 /CNW/ - LUXXFOLIO Holdings Inc. (the "Company" or "LUXXFOLIO") (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt:LUH) (Berlin: LUH), a vertically-integrated digital asset company, announces the following operational update:
Mining Overview (as at or for the month of December 2021):
- Bitcoin mine site operating at a steady state of ~131 PH/s.
- Total monthly rewards of 20.5 Bitcoin for approximate revenues of USD$1.01M or CAD$1.3M (Nov 2021 = USD$1.4M).
- Gross mining margin of 81%, which is equal to USD$0.817M (Nov 2021=USD$1.2M).
- Bitcoin equivalent reserves at end of month of ~71.5 (66.7 BTC and 60 ETH) (Nov. 30, 2021= 54.5).
- Functional currency is now recorded in USD vs CAD in prior months. Revenues exclude any adjustment for valuation changes in BTC or ETH.
- An additional 2190 miners are scheduled to be delivered on a monthly basis with all miners delivered by the third quarter of 2022. This will result in a forecasted increase of 174% in PH from today.
Ken MacLean, President of the LUXX Mining Division commented "2021 was quite a ride for crypto mining. With Bitcoin in a unique phase where the price and rewards are still high, we expect another year of solid growth as we build out further infrastructure and mining capacity."
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 |
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 |
Aug 2021: |
LUXXFOLIO reinvests price rebate and installs an additional 100 Bitmain S19J |
Sep 2021: |
LUXXFOLIO enters into swap agreement on 600 miners and receives early |
Oct 2021: |
LUXXFOLIO accepts early deliver of an additional 75 Miners (total of 675 early |
Oct 2021: |
LUXXFOLIO confirms order for additional 500 Bitmain S19J Pro miners |
Nov 2021: |
LUXXFOLIO Procures Immersion-Cooling for Crypto Mining Operations with |
Nov 2021 |
LUXXFOLIO accepts early delivery of an additional 100 Miners (total of 735 |
Nov 2021: |
LUXXFOLIO closes acquisition of Ethereum mining operation (NR Nov. 27, 2021); |
Dec 2021 |
LUXXFOLIO closes ~$10 Million Institutional led Bought Deal Financing led by |
Dec 2021 |
LUXXFOLIO finalizes order for additional 500 Bitmain S19J Pro miners thereby |
Estimated Calendar Miner Delivery Dates
● Q1 2022: 790 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 "anticipated", "forecasted", "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.
Contact Information: Dean Linden, Chief Executive Officer, Tel: (604) 398-3837, Email: [email protected], www.luxxfolio.com
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