Luxxfolio Hldgs Stock Price, News & Analysis

LUXXFOLIO Holdings Inc. (CSE: LUXX, OTCQB: LUXFF) announced a strategic investment of CAD $2 million from BIGG Digital Assets Inc. (CSE: BIGG, OTCQX: BBKCF). This investment includes 12.5 million common shares and 12.5 million warrants, giving BIGG approximately 15% ownership in LUXXFOLIO. The funds will facilitate LUXXFOLIO's growth in Bitcoin mining and decentralized data storage. BIGG will have the right to appoint one member to LUXXFOLIO's board as long as their equity interest remains above 10%. The warrant exercise is pegged to market performance with potential acceleration clauses.

On June 6, 2022, LUXXFOLIO Holdings Inc. announced it mined 25.22 Bitcoin in May 2022, maintaining a total hash rate of 180 PH/s. The company's power costs are approximately $7,900 to produce one Bitcoin, highlighting its competitive advantage in a rising inflationary environment. However, Bitcoin equivalent reserves decreased to 52.4 from 62.6 Bitcoin in April. The company anticipates further growth as it plans to install 1,400 new miners by Q3 2022, enhancing its operational capacity.

LUXXFOLIO Holdings Inc. (CSE: LUXX) (OTCQB: LUXFF) announced a growth spurt in its hash rate, now at 180 PH/s, marking a 6% increase from last month. The company's mining site expansion in New Mexico is nearly complete, boosting total capacity to 15 MW. For April 2022, LUXXFOLIO mined 25.39 Bitcoin, yielding a total of 62.6 Bitcoin equivalent reserves. Looking forward, the company expects the hash rate to rise rapidly as new miners become operational throughout the year.

LUXXFOLIO Holdings Inc. reports significant operational updates as of January 2022, highlighting a 6% increase in Bitcoin mining capacity to ~139 PH/s. The company mined 22.01 Bitcoin during the month, up from 20.45 in December. Bitcoin equivalent reserves rose to ~82.6 BTC and 64 ETH. The New Mexico mining expansion is on track for Q2 2022, increasing capacity from 8MW to 15MW. A second Canadian operation is now active, mining Filecoin. Future deliveries of miners are set for Q1 through Q3 2022, enhancing overall hash rate.

LUXXFOLIO Holdings Inc. has increased its hash rate to 138 PH/s after receiving 190 additional Bitmain S19J Pro miners, with more installations planned. The company has appointed new executives: Kelly Klatik as Executive Chairman, Ken MacLean as President, Kien Tran as COO, and Anthony Wong as Corporate Secretary. Additionally, 2.078 million stock options were granted to directors and employees, exercisable at 45 cents per share. The company focuses on expanding its operational capacity and provides exposure to digital assets in capital markets.

LUXXFOLIO Holdings Inc. (OTCQB: LUXFF) reported a 31% increase in Bitcoin equivalent reserves, totaling approximately 71.5 BTC and 60 ETH. In December, the company achieved a steady mining rate of ~131 PH/s, earning 20.5 BTC, generating revenues of about USD $1.01M. The gross mining margin stood at 81%, approximately USD $0.817M. LUXXFOLIO has scheduled the delivery of 2,190 additional miners, expected to boost hash rate capacity by 174% by Q3 2022. The operational update highlights a significant focus on scaling their crypto mining operations in the U.S., primarily powered by renewable energy.

LUXXFOLIO Holdings Inc. reports a 30% increase in Bitcoin equivalent reserves, now totaling approximately 54.5 BTC and 52 ETH. Their Bitcoin mine site has achieved an operational hash rate of ~131 PH/s, representing a 6.5% month-over-month increase. November 2021 saw monthly mining rewards of 23.5 BTC, generating around CAD$1,788,000 in revenue, up from CAD$1,600,000 in October. Projected Q1 2022 fiscal revenue is expected to reach CAD$4.23 million. The company emphasizes effective management strategies to enhance revenue and asset growth.

LUXXFOLIO Holdings Inc. (CSE: LUXX, OTCQB: LUXFF) announced on November 25, 2021, a finalized order for an immersion-cooling system through its subsidiary, Westblock Capital Inc. The purchase will partially be paid with cash and through the issuance of 612,000 common shares at $0.83 each. The financing will be supported by a senior secured loan facility from Cypress Hills Partners, capped at $3M, with a potential increase to $5M. This facility will allow LUXX Mining Division to expand its bitcoin mining capabilities in 2022.

LUXXFOLIO Holdings Inc. announced plans to enhance its New Mexico crypto mining facility with an immersion-cooling system. This upgrade is expected to yield a 25% increase in hash rate, potentially reaching up to 50%. The company will install around 1,150 miners in 2022, sourced from a leading North American producer. The immersion system promises reduced maintenance and improved automation while benefiting from low energy costs through its partnership with the Navajo Tribal Utility Authority. These advancements position LUXXFOLIO to become a highly efficient crypto mining operator.