VANCOUVER, British Columbia, May 10, 2022 (GLOBE NEWSWIRE) — LUXXFOLIO Holdings (CSE:LUXX) (OTCQB:LUXFF) (FSE:LUH), a Canada-based, vertically integrated digital asset company, continues its cryptocurrency mining growth, reporting increases in Bitcoin mined for the month of April. The mining site is currently operating at approximately 180 PH/s, an increase of 6% month over month from the 170 PH/s rate on March 31, 2022.
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “LUXXFOLIO” in the search box.
LUXXFOLIO, which operates, through its wholly owned subsidiary, an industrial scale cryptocurrency mining facility in the United States, powered primarily by renewable energy, is nearing completion of its New Mexico mining site expansion. This expansion will further increase the company’s total capacity to 15 MW.
The company mined 25.39 Bitcoin in April, an increase of 26.5% over the 20.07 Bitcoin mined in March, which resulted in Bitcoin equivalent reserves of 62.6 (comprised of 60.7 Bitcoin and 26.5 Ethereum) held at the end of April.
Ken MacLean, President, stated: “We will continue to see site PH increase rapidly over the coming months as new miners arrive at the site.”
The company is anticipating receiving and installing 1,400 Miners by the end of the second quarter along with an additional 300 Miners that are expected to arrive and be installed by the end of the third quarter.
As part of the company’s diversification strategy, it rolled out a separate decentralized storage vertical at the end of January. The new facility, located in Canada, is equipped with customized storage server equipment connected to the Filecoin network. Storage providers who contribute storage space and computing power to the Filecoin network collect rewards known as FIL tokens, which trade like other cryptocurrencies.
The company is well financed, having previously closed a $10 million institutional bought deal financing led by investment banking firm PI Financial.
With its shares trading at $0.20 on the CSE under the symbol “LUXX”, the company provides a liquid alternative for exposure to digital assets. The company also trades on the OTCQB under the symbol “LUXFF” and on the Frankfurt and Berlin Exchanges under the symbol “LUH”.
For more information, please visit the company’s website www.luxxfolio.com, contact Dean Linden, Chief Communications Officer, at 604-398-3837 or email [email protected], or follow the company on any of its social media platforms including Twitter, YouTube, LinkedIn, Facebook, and Instagram.
LUXXFOLIO also invites shareholders and potential investors to join the conversation on the LUXXFOLIO Holdings’ Telegram group at: https://t.me/Luxxfolio.
The information in this InvestmentPitch Media Ltd video is for the viewers information only. LUXXFOLIO has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.
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, CEO