LUXXFOLIO Increase Hash Rate with Expanded Power Capacity

Rhea-AI Summary

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.

Positive

• Total hash rate increased to 180 PH/s, up 6% month-over-month.
• Expansion of New Mexico mining site nearing completion, increasing capacity to 15 MW.
• Monthly Bitcoin production rose to 25.39, a significant improvement from March.

Negative

• None.

VANCOUVER, BC, May 5, 2022  /PRNewswire/ - LUXXFOLIO Holdings Inc. (the "Company" or "LUXXFOLIO") (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH) a vertically-integrated digital asset company is pleased to announce continued growth in its hash rate and is nearing completion of its New Mexico mining site expansion, which will take total capacity to 15 MW. The Company's total hash rate is currently 180 PH/s, an increase of over 6% from the previous month.  

Mining Overview (as at or for the month of April 2022):

• Bitcoin Mine site operating at ~180PH/s (Mar 31, 2022 - 170 PH/s);
• Total monthly Bitcoin mined of 25.39 (Mar 2022 – 20.07 Bitcoin); and
• Bitcoin equivalent reserves at end of month of 62.6 (60.7 BTC and 26.5 ETH) (Mar 31, 2022 – 66.9).

Ken Maclean, President of LUXXFOLIO commented, "We will continue to see site PH increase rapidly over the coming months as new miners arrive at site".

Recent Company Highlights:

Date	Milestones
Nov 2021	LUXXFOLIO Procures Immersion-Cooling for Crypto Mining Operations with anticipated 25% Increase in Hash Rate (NR Nov. 10, 2021);
Nov 2021	LUXXFOLIO accepts early delivery of an additional 100 Miners (total of 735 early deliveries) resulting in a Hash Rate increase of 162% since Sept. 1 2021 (NR Nov. 16, 2021);
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 investment banking firm PI Financial (NR Dec. 2, 2022);
Dec 2021	LUXXFOLIO finalizes order for additional 500 Bitmain S19J Pro miners thereby increasing anticipated future hash rate to 360 PH/s (NR Dec. 16, 2021);
Jan 2022	LUXXFOLIO rolls out Decentralized Storage Vertical (NR Jan. 31, 2022)

Estimated Calendar Miner Delivery and Installation Dates

• Q2 2022: 1,400 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 predominately 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.

 Follow us on:

• Twitter at LuxxfolioH
• The Company diligently posts updates through videos from the official company YouTube channel at: YouTube Channel
• Please join the conversation on our LUXXFOLIO Holdings supporter's Telegram group at: https://t.me/Luxxfolio

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.

FAQ

What is LUXXFOLIO's current hash rate?

LUXXFOLIO's current hash rate is 180 PH/s, a 6% increase from the previous month.

When will the New Mexico mining site expansion be completed?

The expansion of the New Mexico mining site is nearing completion and will increase total capacity to 15 MW.

How much Bitcoin did LUXXFOLIO mine in April 2022?

LUXXFOLIO mined 25.39 Bitcoin in April 2022.

What is LUXXFOLIO's future hash rate projection?

LUXXFOLIO expects the hash rate to increase rapidly as new miners are deployed throughout the year.