VANCOUVER, British Columbia, May 10, 2022 (GLOBE NEWSWIRE) – LUXXFOLIO Holdings (CSE: LUXX) (OTCQB: LUXFF) (ESF: LUH), a vertically integrated digital asset company based in Canada, continues to grow of cryptocurrency mining. reporting increases in Bitcoin extracted for the month of April. The mine site is currently operating at about 180 PH / s, an increase of 6% month-on-month from the rate of 170 PH / s as of 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 about to complete the expansion of its mining site in New Mexico. This expansion will further increase the company’s total capacity to 15 MW.
The company extracted 25.39 Bitcoin in April, an increase of 26.5% compared to 20.07 Bitcoin extracted in March, resulting in equivalent Bitcoin reserves of 62.6 (consisting of 60.7 Bitcoin and 26, 5 Ethereum) held in late April.
Ken MacLean, president, said: “We will continue to see the pH of the site increase rapidly in the coming months as new miners arrive at the site”.
The company expects to receive and install 1,400 miners by the end of the second quarter along with another 300 miners expected to arrive and settle by the end of the third quarter.
As part of the company’s diversification strategy, it launched a separate decentralized storage vertical in late January. The new facility, located in Canada, is equipped with custom storage server equipment connected to the Filecoin network. Storage providers that contribute storage space and computing power to the Filecoin network collect rewards known as FIL tokens, which are marketed like other cryptocurrencies.
The company is well-funded, having previously closed $ 10 million in institutional funding led by investment banking firm PI Financial.
With its shares listed at $ 0.20 on the CSE under the symbol “LUXX”, the company offers a liquid alternative to exposure to digital assets. The company is also listed on the OTCQB under the symbol “LUXFF” and on the Frankfurt and Berlin Stock Exchanges under the symbol “LUH”.
For more information, visit the company’s website www.luxxfolio.comcontact Dean Linden, Director of Communications, at 604-398-3837 or by email DLinden@luxxfolio.comor follow the company on any of its social media platforms, including Twitter, YouTube, LinkedIn, Facebook, and Instagram.
LUXXFOLIO also invites potential shareholders and investors to join the conversation about LUXXFOLIO Holdings’ Telegram group at: https://t.me/Luxxfolio.
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