Home Energy assets LUXXFOLIO closes acquisition of Ethereum Miner and crypto assets

LUXXFOLIO closes acquisition of Ethereum Miner and crypto assets

7
0

VANCOUVER, BC, November 26, 2021 / CNW / – LUXXFOLIO Holdings Inc. (the “Company” or “LUXXFOLIO”) (CSE: LUXX) (OTCQB: LUXFF), a vertically integrated digital asset company, reports that all final conditions have been met and have the pleasure to announce that it has completed its acquisition of Blackcloud Crypto Investments (the “Seller” or “Blackcloud”), as announced on NR September 7, 2021.

Under the purchase agreement, as amended, the Company will now issue 500,003 common shares in exchange for 88 Ethereum mining machines (“Ethereum Miners”), the seller’s portable hosting container and 52 Ethereum coins. These miners are expected to mine between 12 and 15 Ethereum per month.

Ken maclean, LUXX Mining President, commented, “This is an opportunistic acquisition that we believe will have a rapid return on investment under Ethereum’s current proof-of-work validation model. Strategically we see this as a low risk opportunity to own and manage other digital assets which we believe will lead to further opportunities for LUXXFOLIO ”.

Ryan johnson, CEO of Blackcloud commented: “We are delighted to have created the opportunity for our shareholders to participate in the growth that the LUXXFOLIO team is creating and we look forward to participating in their continued success in the future. .

Recent Company Highlights

Dated

Milestones

Dec 2020:

LUXXFOLIO orders 590 Avalon miners (NR 24 Dec 2020);

May 2021:

LUXXFOLIO orders 2,400 Bitmain S19J Pro miners (NR May 3, 2021);

June 2021:

LUXXFOLIO completes the acquisition of an industrial-scale crypto mining operation (NR June 15, 2021);

July 2021:

LUXXFOLIO receives and installs 590 Avalon miners (NR 19 Jul 2021);

August 2021:

LUXXFOLIO announces an extension to increase its capacity from 8 MW to 15 MW (NR August 12, 2021);

August 2021:

LUXXFOLIO Reinvests Price Discount and Installs 100 Additional Bitmain S19J Pro Miners (NR August 4, 2021);

Sep 2021:

LUXXFOLIO signs agreement to acquire Ethereum mining operation (NR Sep 7, 2021);

Sep 2021:

LUXXFOLIO concludes swap agreement on 600 miners and receives early delivery on 300 (NR Sep 20, 2021).

Sep 2021:

LUXXFOLIO DTC application approved (NR 23 Sep 2021)

October 2021:

LUXXFOLIO accepts early delivery of 75 additional miners (total of 675 early deliveries) resulting in hash rate increase of 144% since September 1, 2021 (NR 14 Oct 2021).

October 2021:

LUXXFOLIO confirms order for 500 additional Bitmain S19J Pro miners, increasing expected future hash rate to 360 PH / s (NR October 21, 2021)

November 2021:

LUXXFOLIO purchases immersion cooling for crypto mining operations with expected 25% increase in hash rate (NR 10 Nov 2021)

November 2021

LUXXFOLIO accepts early delivery of 100 additional miners (total of 735 early deliveries) resulting in hash rate increase of 162% since September 1, 2021 (NR November 16, 2021)

Estimated calendar of delivery dates for the minor

  • Q4 2021: 190 miners
  • Q1 2022: 600 miners
  • Q2 2022: 1,100 miners
  • Q3 2022: 300 miners

About LUXXFOLIO

LUXXFOLIO Holdings Inc. is a publicly traded, vertically integrated digital asset company based in Canada. We operate an industrial scale cryptocurrency mining facility in United States, powered primarily by renewable energies, with a focus on the blockchain ecosystem and the generation of digital assets. LUXXFOLIO provides a liquid alternative for digital asset exposure for broader capital markets.

Follow us on:

  • Twitter at LuxxfolioH
  • The company diligently posts updates via videos from the company’s official YouTube channel at: YouTube channel
  • Please join the Telegram Group conversation of our LUXXFOLIO Holdings supporters at: https://t.me/Luxxfolio

The CSE has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.

Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will”, “expected” or variations of such words and phrases or statements indicating that certain actions, events or results “will” occur. produce. Forward-looking statements regarding the Company, its hosting operations, miners, hash rate and the Company’s development of its growth strategy are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that could cause actual results. , the level of activity, performance or achievements of the Company and its subsidiary are materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE Luxxfolio Holdings Inc.

For more information: Dean Linden, Chairman and CEO, Tel. : (604) 398-3837, Email: [email protected], www.luxxfolio.com


Source link