- Oops!Something went wrong.Please try again later.
Vancouver, British Columbia--(Newsfile Corp. - October 22, 2021) - LUXXFOLIO Holdings (CSE: LUXX) (OTCQB: LUXFF) (FSE: LUH), a Canada-based, vertically integrated digital asset company, has confirmed a purchase order for an additional 500 Bitcoin miners. These 500 Bitmain S19j Pro Bitcoin miners, which cost USD$3.02 million, are scheduled for delivery in May 2022.
For more information, please view the InvestmentPitch Media "video" which provides additional information on the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter "LUXXFOLIO" in the search box.
The confirmed Bitcoin Miner order will be financed through a combination of internally generated working capital and an asset backed lending structure with NYDIG, LUXXFOLIO's finance 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.
This purchase increases LUXXFOLIO's confirmed number of miners projected to be operating by the end of July 2022 to 3,590, with a total confirmed future hash rate of 360 Petahash per second, which is 16% higher than their previous projected hash rate for that date. As of today, the company has 1,309 miners operating at a hash rate of 124.4 Petahash per second.
Dean Linden, CEO, commented: "We were able to lock in this additional expansion of these New Miners at pricing materially lower than current spot prices, which will have a positive impact on our future margins as we accelerate our growth plans at a faster than anticipated rate."
The shares are trading at $1.05 on the CSE under the symbol "LUXX". The company also trades on the OTCQB under the symbol "LUXFF" and recently began trading on the Frankfurt Exchange under the symbol "LUH".
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.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Barry Morgan, CFO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100543