(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, Nov. 04, 2021 (GLOBE NEWSWIRE) -- LUXXFOLIO Holdings (CSE:LUXX) (OTCQB:LUXFF) (FSE:LUH), a Canada-based, vertically integrated digital asset company, has achieved a month over month increase of 103% in mining revenues. 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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Revenues of $1,625,000 were achieved for the month of October, with total monthly rewards of approximately 22.5 Bitcoin. At October 31st, mining reserves were approximately 42 Bitcoin, an increase of 24% over the 34 Bitcoin at the end of September.
The LUXX mine site is currently operating 1300 miners at approximately 123 Petahash per second, equating to an additional 275 miners installed during the month of October, with an additional 2290 miners scheduled for delivery by June 2022. The company is targeting 360 Petahash per second by August 2022 based on the current miner delivery schedule. This equates to a projected 192% increase in hash rate from current production rates.
Kien Tran, COO of the LUXX Mining Division, stated: “The acceleration of miner deliveries and our strong operational team in New Mexico has significantly expanded our recent hash rate performance. We are fortunate to be operating in the heart of the Navajo Nation, who provide a dedicated and skilled workforce required for a successful Bitcoin mining operation.”
The shares are trading at $1.03 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 , or follow the company on any of its social media platforms including twitter, YouTube, LinkedIn, Facebook, Instagram and Telegram. You can also contact Dean Linden, CEO, at 604-398-3837 or email .
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