LUXXFOLIO HLDGS INC - LUXFF STOCK NEWS

LUXXFOLIO Holdings Inc. announced a debt settlement arrangement with its major lender, reducing its debt by approximately USD$5.8 million in exchange for the transfer of about 1,900 mining machines. This settlement represents the company's entire obligation to the lender and most of its long-term debt. The move aims to enhance financial flexibility within the volatile bitcoin mining sector, allowing LUXXFOLIO to focus on its immersion mining strategy, which offers consistent revenue and operational efficiency.

On July 15, 2022, LUXXFOLIO Holdings announced the sale of 100 Petahash cryptocurrency mining machines, reducing its debt by approximately USD$3.2 million. Under a two-year hosting agreement, the Company will continue to mine bitcoin while securing steady revenue from hosting fees. The initiative aims to optimize operations amid market challenges. Company executives expressed a bullish outlook on bitcoin, emphasizing the strategic shift towards immersion technology to enhance mining efficiency.

LUXXFOLIO Holdings (CSE:LUXX) (OTCQB:LUXFF) has secured a strategic investment from BIGG Digital Assets Inc., acquiring 12.5 million units at $0.16 each. Each unit comprises one share and one warrant, exercisable at $0.21 for 24 months. This investment enables BIGG to own approximately 15% of LUXXFOLIO, granting them a board seat with a minimum equity interest of 10%. Proceeds will fund capital expenditures and operating expenses. LUXXFOLIO operates a renewable energy-powered crypto mining facility in New Mexico, producing around 180 PH/s and mining 25.22 Bitcoins in May.

LUXXFOLIO Holdings Inc. (CSE: LUXX, OTCQB: LUXFF) announced a strategic investment of CAD $2 million from BIGG Digital Assets Inc. (CSE: BIGG, OTCQX: BBKCF). This investment includes 12.5 million common shares and 12.5 million warrants, giving BIGG approximately 15% ownership in LUXXFOLIO. The funds will facilitate LUXXFOLIO's growth in Bitcoin mining and decentralized data storage. BIGG will have the right to appoint one member to LUXXFOLIO's board as long as their equity interest remains above 10%. The warrant exercise is pegged to market performance with potential acceleration clauses.

On June 6, 2022, LUXXFOLIO Holdings Inc. announced it mined 25.22 Bitcoin in May 2022, maintaining a total hash rate of 180 PH/s. The company's power costs are approximately $7,900 to produce one Bitcoin, highlighting its competitive advantage in a rising inflationary environment. However, Bitcoin equivalent reserves decreased to 52.4 from 62.6 Bitcoin in April. The company anticipates further growth as it plans to install 1,400 new miners by Q3 2022, enhancing its operational capacity.

LUXXFOLIO Holdings Inc. (CSE: LUXX) (OTCQB: LUXFF) announced a growth spurt in its hash rate, now at 180 PH/s, marking a 6% increase from last month. The company's mining site expansion in New Mexico is nearly complete, boosting total capacity to 15 MW. For April 2022, LUXXFOLIO mined 25.39 Bitcoin, yielding a total of 62.6 Bitcoin equivalent reserves. Looking forward, the company expects the hash rate to rise rapidly as new miners become operational throughout the year.

LUXXFOLIO Holdings Inc. reports significant operational updates as of January 2022, highlighting a 6% increase in Bitcoin mining capacity to ~139 PH/s. The company mined 22.01 Bitcoin during the month, up from 20.45 in December. Bitcoin equivalent reserves rose to ~82.6 BTC and 64 ETH. The New Mexico mining expansion is on track for Q2 2022, increasing capacity from 8MW to 15MW. A second Canadian operation is now active, mining Filecoin. Future deliveries of miners are set for Q1 through Q3 2022, enhancing overall hash rate.

LUXXFOLIO Holdings Inc. has increased its hash rate to 138 PH/s after receiving 190 additional Bitmain S19J Pro miners, with more installations planned. The company has appointed new executives: Kelly Klatik as Executive Chairman, Ken MacLean as President, Kien Tran as COO, and Anthony Wong as Corporate Secretary. Additionally, 2.078 million stock options were granted to directors and employees, exercisable at 45 cents per share. The company focuses on expanding its operational capacity and provides exposure to digital assets in capital markets.

LUXXFOLIO Holdings Inc. (OTCQB: LUXFF) reported a 31% increase in Bitcoin equivalent reserves, totaling approximately 71.5 BTC and 60 ETH. In December, the company achieved a steady mining rate of ~131 PH/s, earning 20.5 BTC, generating revenues of about USD $1.01M. The gross mining margin stood at 81%, approximately USD $0.817M. LUXXFOLIO has scheduled the delivery of 2,190 additional miners, expected to boost hash rate capacity by 174% by Q3 2022. The operational update highlights a significant focus on scaling their crypto mining operations in the U.S., primarily powered by renewable energy.