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Vancouver, British Columbia--(Newsfile Corp. - September 21, 2021) - LUXXFOLIO Holdings (CSE: LUXX) (OTCQB: LUXFF) (FSE: LUH), a Canada-based, vertically integrated digital asset company, has accepted early delivery of 600 Bitmain S19J Pro miners through a swap agreement with a strategic partner. 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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The Miners were originally scheduled for delivery at the latter part of Q3 and Q4 of this year. As of today, 300 of the 600 Miners have arrived early with substantially all installed and operating, with 300 remaining enroute to the LUXX Mining facility.
Ken MacLean, President of LUXX Mining Division, commented, "This transaction accelerates our revenues by an estimated 45 to 75 days during a time when hash rate difficulty is very attractive for the bitcoin mining industry. With the miner supply chain tightening again, stepping up install timelines is highly accretive and enhances near term cashflow and return on assets."
With this acceleration of Miner deliveries and taking into account the recently announced Ethereum mining acquisition, the company projects the current hash rate to increase from 50 PetaHash per second earlier this month to 80 PetaHash per second as of today and in excess of 116 PetaHash per second (BTC Equivalent) by month end.
Based on expected difficulty rates and near-term installs, it is estimated that beginning in October production rewards of self-mined Bitcoin will be at 20 to 22 Bitcoin per month and self-mined Ethereum will be at 16 to 18 Ethereum per month, prior to operations being fully optimized. Based on current miner delivery schedule, the company is expecting to reach production in excess of 151 PetaHash per second by the end of this calendar year and is targeting a hash rate of 310 PetaHash per second by July of next year.
For more information on this investment opportunity, please visit the company's website www.luxxfolio.com, or follow the company on any of its social media platforms including twitter, YouTube, LinkedIn, Facebook, Instagram and Telegram. You can also contact Dean Linden, CEO, at 604-398-3837 or email DLinden@luxxfolio.com.
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Barry Morgan, CFO
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