Vancouver, British Columbia–(Newsfile Corp. – November 30, 2021) – LUXXFOLIO Holdings (CSE: LUXX) (OTCQB: LUXFF) (FSE: LUH), a Canada-based, vertically integrated digital asset company, closed its acquisition of Ethereum Miner, Blackcloud Crypto Investments. 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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Under the terms of the amended Purchase Agreement, LUXXFOLIO will now issue 500,003 common shares. In return, LUXXFOLIO will receive 88 Ethereum mining machines, which are expected to mine between 12 – 15 Ethereum per month, the Seller’s Hosting Portable Container, and 52 Ethereum coins.
Ken MacLean, President of LUXX Mining Division, stated: “This is an opportunistic acquisition that we believe will have a quick payback under Ethereum’s current Proof of Work validation model. Strategically, we view this as a low-risk opportunity to own and manage other digital assets that we believe will lead to other opportunities for LUXXFOLIO.”
Ryan Johnson, CEO of Blackcloud, added: “We are excited to have created the opportunity for our shareholders to participate in the growth that the team at LUXXFOLIO is creating and look forward to participating in their continued success into the future.”
LUXXFOLIO is looking forward to increasing its current hash rate as the company prepares for the delivery of additional Miners as set out in this estimated calendar of Miner Delivery Dates.
- Q4 2021: 190 Miners
- Q1 2022: 600 Miners
- Q2 2022: 1100 Miners
- Q3 2022: 300 Miners
The LUXX mine site is currently operating 1300 miners at approximately 123 Petahash per second, with an additional 2,190 miners scheduled for delivery by June 2022. The company is targeting 360 Petahash per second by August 2022, which equates to a projected 192% increase in hash rate from current production rates, based on the anticipated miner delivery schedule.
The shares are trading at $0.79 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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