InvestmentPitch Media Video Discusses LUXXFOLIO’s Increase in Bitcoin Mined in April to Approximately 180 PH/s, up 6% Month over Month
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.
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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 DLinden@luxxfolio.com, 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: http://t.me/Luxxfolio.
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