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Vancouver, British Columbia--(Newsfile Corp. - December 3, 2021) - LUXXFOLIO Holdings (CSE: LUXX) (OTCQB: LUXFF) (FSE: LUH), a Canada-based, vertically integrated digital asset company, recorded a record month in November, with $1.8 million in mining revenues and a 30% increase in Bitcoin equivalent reserves. 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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At the end of November, the Bitcoin mine site was operating at approximately 131 Petahash per second, a 6.5% month over month increase from October 31st, when the company was operating at 123 Petahash per second. Total monthly rewards of 23.5 Bitcoin were mined for approximate revenues of $1.788 million, an increase of $188,000 over the $1.6 million reported in October, excluding any adjustment for valuation changes in Bitcoin or Ethereum.
The company reported quarterly revenues of approximately $4.23 million for the quarter ending November 30, the first quarter of the new 2022 financial year, as a result of mining approximately 60 Bitcoin. The reserves at the month end were approximately 54.5 Bitcoin equivalent, consisting of 50 Bitcoin and 52 Ethereum, an increase of 12.5 or 30% over the 42 Bitcoin equivalent at the end of October.
Kien Tran, COO of the LUXX Mining Division, stated: "We continue to accelerate our revenues through effective mine management and steadily grow our Bitcoin and Ethereum reserves through effective balance sheet management in order to maximize the enterprise value of the business. As well, we welcome our new Ethereum operation that has integrated nicely into our enterprise mine management solution."
LUXXFOLIO is also looking forward to increasing their current hash rate as the company prepares for the delivery of an additional 2,190 Miners by Q3 2022, which will increase their hash rate to 360 Petahash per second, a projected 174% increase in hash rate from the current production rates.
The shares are trading at $0.64 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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