LUXXFOLIO Achieves 103% Month over Month Increase in Mining Revenues 24% Increase in BTC Reserves
LUXXFOLIO Holdings Inc. has reported significant operational advancements as of October 2021. The company operates 1,300 miners, achieving a hash rate of approximately 123 PH/s, a substantial increase from 95 PH/s in September. Monthly Bitcoin rewards reached 22.5 BTC, generating CAD$1,625,000 in revenue, up from CAD$800,000 in the previous month. Additionally, Bitcoin reserves rose by 24% to around 42 BTC. LUXXFOLIO will participate in the World Digital Mining Summit in Dubai on November 9-10, 2021, to engage with digital asset community leaders.
- 103% month-over-month increase in mining revenues.
- Bitcoin reserves increased by 24% to ~42 BTC.
- Operational hash rate rose 29% from 95 PH/s to 123 PH/s.
- None.
VANCOUVER, BC, Nov. 1, 2021 /PRNewswire/ - LUXXFOLIO Holdings Inc. (the "Company" or "LUXXFOLIO") (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH) announces the following operational update:
Mining Overview (as at or for the month of October 2021):
- Mine site operating 1,300 miners at ~123 PH/s (Sept. 30, 2021 = 1,025 miners at 95 PH/s);
- An additional 275 miners installed during the month;
- Total monthly rewards of 22.5 Bitcoin for approximate revenues of CAD
$1,625,000 (Sept. 2021 = CAD$800,000 ); - Bitcoin reserve at end of month of ~42 Bitcoin (Sept. 30, 2021 = 34).
"The acceleration of miner deliveries and our strong operational team in New Mexico has significantly expanded our recent hash rate performance," said Kien Tran, COO of the LUXX Mining Division. "We are fortunate to be operating in the heart of the Navajo Nation, who provide a dedicated and skilled workforce required for a successful Bitcoin mining operation".
Find LUXXFOLIO at the World Digital Mining Summit in Dubai
LUXXFOLIO executives will attend the World Digital Mining Summit in Dubai, hosted by Bitmain, from November 9 – 10, 2021. "We look forward to engaging with other leaders in the digital asset community and staying current with the latest developments in the community," said LUXX Mining Division President Ken MacLean.
Parties interested in arranging a meeting with the LUXXFOLIO team at the World Digital Mining Summit are invited to contact Ken MacLean at kmaclean@luxxfolio.com
Recent Company Highlights
Date | Milestones |
Dec 2020: | LUXXFOLIO orders 590 Avalon miners (NR Dec. 24, 2020); |
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 agreement to acquire Ethereum mining operation (NR |
Sep 2021: | LUXXFOLIO enters into swap agreement on 600 miners and receives early |
Sep 2021: | LUXXFOLIO DTC application approved (NR Sep. 23, 2021); |
Oct. 2021: | LUXXFOLIO accepts early delivery of an additional 75 Miners (total of 675 early |
Oct. 2021 | LUXXFOLIO confirms order for additional 500 Bitmain S19J Pro miners thereby |
Estimated Calendar Miner Delivery Dates
- Q4 2021: 225 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, powered primarily by 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", "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.
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SOURCE Luxxfolio Holdings Inc.
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