LUXXFOLIO Continues Mining Growth and Increases BTC Reserves by 16%


LUXXFOLIO Holdings Inc. (the “Company” or “LUXXFOLIO”) (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH) a vertically-integrated digital asset company announces the following operational update:

Mining Overview (as at or for the month of January 2022):

  • Bitcoin Mine site operating at ~139 PH/s – 6% Increase MoM (Dec. 31, 2021: 131 PH/s);
  • Total monthly Bitcoin mined of 22.01 (Dec 2021 = 20.45 Bitcoin);
  • Bitcoin equivalent reserves at end of month of ~82.6 (78 BTC and 64 ETH) (Dec. 31, 2021= 71.5);
  • Expansion of the New Mexico mining operation continues as scheduled. Groundwork has been completed and all electrical equipment has been delivered to the site. Electrical connections are being finalized with the first phase expansion scheduled to be completed over the next month, coinciding with the next batch of miner deliveries.
  • Final completion of expansion is scheduled for calendar Q2 of this year, which will increase capacity from approximately 8MW to 15MW.
  • The company has opened a second mining operation in Canada where it is mining Filecoin as part of its diversification strategy.

Ken MacLean, President of LUXX commented “Our mining site expansion is nearing completion including the addition of 2100 miners by mid-2022. With immersion technology, we anticipate this will increase our capacity to 370-395 PH/s. In addition, we are beginning to see miner purchasing opportunities as supply chain improvements continue and inventory levels begin to rise.”

Recent Company Highlights



Nov 2021:

LUXXFOLIO Procures Immersion-Cooling for Crypto Mining Operations with
anticipated 25% Increase in Hash Rate (NR Nov. 10, 2021)

Nov 2021

LUXXFOLIO accepts early delivery of an additional 100 Miners (total of 735
early deliveries) resulting in a Hash Rate increase of 162% since Sept. 1 2021
(NR Nov. 16, 2021)

Nov 2021:

LUXXFOLIO closes acquisition of Ethereum mining operation (NR Nov. 27, 2021);

Dec 2021

LUXXFOLIO closes ~$10 Million Institutional led Bought Deal Financing led by
investment banking firm PI Financial (NR Dec. 2)

Dec 2021

LUXXFOLIO finalizes order for additional 500 Bitmain S19J Pro miners thereby
increasing anticipated future hash rate to 360 PH/s (NR Dec. 16, 2021)

Jan 2022

LUXXFOLIO rolls out Decentralized Storage Vertical (NR Jan. 31, 2022)

Estimated Calendar Miner Delivery and Installation Dates

  • Q1 2022: 600 Miners
  • Q2 2022: 1100 Miners
  • Q3 2022: 300 Miners

LUXXFOLIO Announces Purchase Order and Financing of Immersion-Cooling System


LUXXFOLIO Holdings Inc. (the “Company” or “LUXXFOLIO”) (CSE: LUXX) (OTCQB: LUXFF) is pleased to announce that on November 25, 2021, through its wholly- owned subsidiary Westblock Capital Inc. (“LUXX Mining Division“), it has finalized the order with CES Corporation (“CES“) on the immersion-cooling system (the “Immersion System“), as previously announced on November 10, 2021.

The purchase price of the Immersion System (the “Purchase Price“) will be paid in part by cash and the issuance of 612,000 common shares of the Company at a deemed price of $0.83 per share. Cypress Hills Partners Inc., or one of its affiliates, (“CHP“) has agreed to provide LUXX Mining Division with a senior secured loan facility to finance the cash portion of the Purchase Price (the “Facility“). LUXX Mining Division will be able to use the Facility to acquire future bitcoin mining equipment as well.

Ken MacLean, President of the LUXX Mining Division commented, “This Facility provides us with increased flexibility to continue our aggressive expansion plans in 2022 and to be opportunistic in our fixed asset purchases.”

The terms of the Facility will include:

  • up to a maximum of $3M, which may be increased to $5M if agreed to by both parties;
  • a maturity date of 24 months after closing, at which time all outstanding obligations of the borrower become due and payable;
  • secured by a general security agreement over borrower and its subsidiaries, and a first charge on equipment used for crypto mining;
  • a variable interest rate to be paid monthly; and
  • a 0.75% facility fee.

CHP, LUXX Mining Division, and the Company have certain common directors, officers, and insiders. As such, the Facility is a related-party transaction as defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Based on Section 5.5(b) of MI 61-101, the Company is exempt from having to obtain a formal valuation. The Company has also relied upon Section 5.7(1)(a) of MI 61-101 to be exempt from the minority approval requirement on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Facility exceeded 25 per cent of the Company’s market capitalization. The Company did not file a material change report 21 days prior because the details of the Facility had not been confirmed at that time.


LUXXFOLIO Announces Closing of $3 Million Private Placement


LUXXFOLIO Holdings Inc. (the “Company” or “LUXXFOLIO”) (CSE: LUXX) (OTCQB: LUXFF) is pleased to announce the closing of the previously announced non-brokered private placement (NR June 15, 2021):

The final tranches consisted of 3,178,884 special warrants and 60,000 units for gross proceeds equal to $1,133,609 for total closing amount equal to $3,006,119. A total of 8,118,912 special warrants, 470,000 units and 117,032 finder warrants were issued on the closings. The special warrants and units were priced at $0.35.

All directors of the Company and wholly owned subsidiary WestBlock Capital directly or indirectly participated for a total of 320,000 special warrants/units of the offering.

Recent Company Highlights

  • The recently acquired WestBlock (NR June 15, 2021) operates a 15 MW mining operation in the Navajo Nation, New Mexico, USA;
  • With the addition of the 2400 Bitmain S19j Pro bitcoin miners previously announced (NR May 27, 2021), LUXXFOLIO is targeting Bitcoin production to be approximately 303 PH’s by Q3 2022.
  • The Company recently up-listed in the US to the OTCQB under the symbol LUXFF (NR May 19, 2021).

Estimated Calendar Miner Delivery Dates

  • Q3 2021: 890 Miners
  • Q4 2021: 600 Miners
  • Q1 2022: 600 Miners
  • Q2 2022: 600 Miners
  • Q3 2022: 300 Miners

LUXXFOLIO’s initial order of 590 miners are in transit and are expected to be installed and operational before the end of July 2021.


Final Tranche of Private Placement Closed – Total Closings of $1.6 million


LUXXFOLIO Holdings Inc. (the “Company”) (CSE: LUXX) is pleased to announce that on March 19, 2021, the Company completed the final tranche of its non-brokered private placement that was previously announced on February 10, 2021 (the “Offering”).

The final tranche consisted of 904,914 common shares for gross proceeds of $316,720 for a total closing of 4,572,060 common shares at $0.35 per share equal to $1,600,221. The shares are subject to a four-month and one day hold period under securities laws.

An insider of the Company subscribed for 44,200 common shares in the final tranche of the Offering and such subscription is a “related party transaction” under Multilateral Instrument 61-101 (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the insider, exceeds 25% of the Company’s market capitalization. The Company did not file a material change report 21 days prior to the transaction because the Company had not received and accepted a subscription from the insider at that time.