LUXXFOLIO Records Record Month of $1.8 Million in Mining Revenues
LUXXFOLIO Holdings Inc. reports a 30% increase in Bitcoin equivalent reserves, now totaling approximately 54.5 BTC and 52 ETH. Their Bitcoin mine site has achieved an operational hash rate of ~131 PH/s, representing a 6.5% month-over-month increase. November 2021 saw monthly mining rewards of 23.5 BTC, generating around CAD$1,788,000 in revenue, up from CAD$1,600,000 in October. Projected Q1 2022 fiscal revenue is expected to reach CAD$4.23 million. The company emphasizes effective management strategies to enhance revenue and asset growth.
- 30% increase in Bitcoin equivalent reserves to ~54.5 BTC and 52 ETH.
- Mining site operational at ~131 PH/s, a 6.5% MoM increase.
- November 2021 mining rewards of 23.5 BTC, generating CAD$1,788,000 in revenue.
- Projected Q1 2022 fiscal revenue expected to reach CAD$4.23 million.
- None.
VANCOUVER, BC, Dec. 2, 2021 /PRNewswire/ - LUXXFOLIO Holdings Inc. (the "Company" or "LUXXFOLIO") (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH) a vertically-integrated digital asset company announces the following operational update:
Mining Overview (as at or for the month of November 2021):
- Bitcoin Mine site operating at ~131 PH/s:
6.5% MoM Increase (Oct. 31, 2021: 123 PH/s); - Total monthly rewards of 23.5 Bitcoin for approximate revenues of CAD
$1,788,000 (Oct 2021 = CAD$1,600,000 ); - Total Q1 2022 Fiscal Quarterly Revenue of approximately CAD
$4.23 Million (~60 BTC Mined); - Bitcoin equivalent reserves at end of month of ~54.5 (50 BTC and 52 ETH) (Oct. 31, 2021: 42);
- Revenues exclude any adjustment for valuation changes in BTC or ETH.
"We continue to accelerate our revenues through effective mine management and steadily grow our Bitcoin and Ethereum reserves through effective balance sheet management in order to maximize the enterprise value of the business," said Kien Tran, COO of the LUXX Mining Division. "As well, we welcome our new Ethereum operation that has integrated nicely into our enterprise mine management solution."
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 (NR Jun. 15, 2021); |
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 (NR Aug. 12, 2021); |
Aug 2021: | LUXXFOLIO reinvests price rebate and installs an additional 100 Bitmain S19J Pro miners (NR Aug. 4, 2021); |
Sep 2021: | LUXXFOLIO enters into agreement to acquire Ethereum mining operation (NR Sep. 7, 2021); |
Sep 2021: | LUXXFOLIO enters into swap agreement on 600 miners and receives early delivery on 300 (NR Sep. 20, 2021). |
Sep 2021: | LUXXFOLIO DTC application approved (NR Sep. 23, 2021) |
Oct. 2021: | LUXXFOLIO accepts early deliver of an additional 75 Miners (total of 675 early deliveries) resulting in a Hash Rate increase of |
Oct. 2021: | LUXXFOLIO confirms order for additional 500 Bitmain S19J Pro miners thereby increasing anticipated future hash rate to 360 PH/s (NR Oct. 21, 2021) |
Nov 2021: | LUXXFOLIO Procures Immersion-Cooling for Crypto Mining Operations with anticipated |
Nov 2021 | LUXXFOLIO accepts early delivery of an additional 100 Miners (total of 735 early deliveries) resulting in a Hash Rate increase of |
Nov 2021: | LUXXFOLIO closes acquisition of Ethereum mining operation (NR Nov. 27, 2021); |
Estimated Calendar Miner Delivery Dates
- Q4 2021: 190 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 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", "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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