Vancouver, British Columbia--(Newsfile Corp. - December 20, 2021) - LUXXFOLIO Holdings (CSE: LUXX) (OTCQB: LUXFF) (FSE: LUH), a Canada-based, vertically integrated digital asset company, has finalized an order for 500 Bitmain S19j Pro Bitcoin miners as originally announced on October 21st.
The US$3,020,000 cost, which equates to $60 per Terahash, will be financed through a combination of working capital and an asset backed lending structure with NYDIG, LUXXFOLIO's finance partner. NYDIG, a leading bitcoin company that provides a comprehensive suite of services for institutional bitcoin miners, closed an equity funding round of US$1 billion, earlier this week, led by WestCap.
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Upon receipt of the Bitcoin miners, which is scheduled for May 2022, LUXXFOLIO anticipates increasing its mining rate by approximately 20% at that time. This will bring the total projected hash rate to 360 Petahash per second by calendar Q3 of 2022, a projected 174% increase in hash rate from current production rates, excluding any impact of the immersion cooling system to be installed in calendar Q1 of 2022.
Ken MacLean, President of LUXX Mining Division, stated: "We will have the option to install these 500 miners into our immersion cooling system on arrival. Based on the specs of the immersion, the projected hash rate on this order could increase from 50 PH/s to a range of 62 to 75 PH/s."
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.
The company recently closed an institutional led, oversubscribed, Bought Deal Financing of close to $10 million, with a syndicate led by PI Financial, that included Canaccord Genuity and M Partners.
The shares are trading at $0.38 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, contact Dean Linden, CEO, 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: https://t.me/Luxxfolio.
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