LUXXFOLIO, which focusses on Bitcoin mining and generating digital assets on the blockchain ecosystem, operates, through its wholly owned subsidiary LUXX Mining Division, an industrial scale cryptocurrency mining facility in the United States, powered primarily by renewable energy.
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I’m Katriina Cotten for Investmentpitch Media
LUXXFOLIO Holdings, a Canada-based, vertically integrated digital asset company, has recorded a 31% increase in Bitcoin Equivalent reserves for the end of December.
LUXXFOLIO, which focusses on Bitcoin mining and generating digital assets on the blockchain ecosystem, operates, through its wholly owned subsidiary LUXX Mining Division, an industrial scale cryptocurrency mining facility in the United States, powered primarily by renewable energy.
LUXXFOLIO’s Bitcoin mine site is operating at a steady state of approximately 131 Petahash per second, and with an additional 2,190 Bitcoin miners scheduled for regular delivery over the next 2 quarters, the company is forecasting an increase of 174% in hash rate by the third quarter of 2022, excluding any positive impact of the immersion cooling system to be installed in calendar Q1 of 2022.
The company achieved total monthly rewards of 20.5 Bitcoin during December, resulting in revenue of approximately US$1,010,000 or CDN$1.3 million and Bitcoin equivalent reserves of approximately 71.5, comprised of 66.7 Bitcoin and 60 Ethereum, an increase of 31% over the 54.5 Bitcoin equivalent reserves reported at the end of November.
The company also achieved a gross mining margin of 81%, which is equivalent to US$817,000.
The reported revenues exclude any adjustment for valuation changes in Bitcoin or Ethereum.
Effective December, LUXXFOLIO’s functional currency is now recorded in US dollars rather than Canadian dollars as previously reported.
Ken MacLean, President of LUXX Mining Division, stated: “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.”
In early December, the company closed an institutional led, oversubscribed, Bought Deal Financing of close to $10 million, with a syndicate led by PI Financial, that included Canaccord Genuity and M Partners.
The shares are trading at $0.47 on the CSE under the symbol “LUXX”.
The company also trades on the OTCQB under the symbol “LUXFF” and recently began trading on the Frankfurt Exchange under the symbol “LUH”.
For more information on this investment opportunity, please visit the company’s website www.luxxfolio.com, contact Dean Linden, CEO, at 604-398-3837 or email DLinden@luxxfolio.com, or follow the company on any of its social media platforms including twitter, YouTube, LinkedIn, Facebook, and Instagram.
LUXXFOLIO also invites shareholders and potential investors to join the conversation on the LUXXFOLIO Holdings’ Telegram group at: https://t.me/Luxxfolio
I’m Katriina Cotten for Investmentpitch Media
