Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. CANADIAN NATIONAL STOCK EXCHANGE
  5. Luxxfolio Holdings Inc.
  6. News
  7. Summary
    LUXX   CA55069Q1046

LUXXFOLIO HOLDINGS INC.

(LUXX)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

LUXXFOLIO : Closes Acquisition of Ethereum Miner and Crypto Assets

11/26/2021 | 12:40am EST

LUXXFOLIO HOLDINGS INC.

1080 Mainland Street, Suite 212

Vancouver, BC V6B 2T4

NEWS RELEASE

LUXXFOLIO Closes Acquisition of Ethereum Miner and Crypto Assets

VANCOUVER, BC - November 26, 2021 - LUXXFOLIO Holdings Inc. (the "Company" or "LUXXFOLIO") (CSE: LUXX) (OTCQB: LUXFF), a vertically-integrated digital asset company, reports that all final conditions have been satisfied and is pleased to announce that it has closed its acquisition of Blackcloud Crypto Investments (the "Seller" or "Blackcloud"), as announced on NR Sept. 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 Hosting Portable Container, and 52 Ethereum coins. These Miners are expected to mine between 12-15 Ethereum per month.

Ken MacLean, President of LUXX Mining Division commented, "This is an opportunistic acquisition that we believe will have a quick payback under Ethereum's current Proof of Work validation model. Strategically, we view this as a low-risk opportunity to own and manage other digital assets that we believe will lead to other opportunities for LUXXFOLIO".

Ryan Johnson, CEO of Blackcloud commented, "We are excited to have created the opportunity for our shareholders to participate in the growth that the team at LUXXFOLIO is creating and look forward to participating in their continued success into the future."

Recent Company Highlights

Date Milestones

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

May 2021: LUXXFOLIO orders 2400 Bitmain S19J Pro miners (NR May 3, 2021);

Jun 2021: LUXXFOLIO completes acquisition of industrial scale crypto mining operation (NR Jun. 15, 2021);

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

Aug 2021: LUXXFOLIO announces expansion to increase capacity from 8MW to 15 MW (NR Aug. 12, 2021);

Aug 2021: LUXXFOLIO reinvests price rebate and installs an additional 100 Bitmain S19JPro miners (NR Aug. 4, 2021);

Sep 2021: LUXXFOLIO enters into agreement to acquire Ethereum mining operation (NRSep. 7, 2021);

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

Sep 2021: LUXXFOLIO DTC application approved (NR Sep. 23, 2021)

Oct. 2021: LUXXFOLIO accepts early delivery of an additional 75 Miners (total of 675 early deliveries) resulting in a Hash Rate increase of 144% since Sept. 1 2021(NR Oct. 14, 2021).

Oct. 2021: LUXXFOLIO confirms order for additional 500 Bitmain S19J Pro miners thereby increasing anticipated future hash rate to 360 PH/s (NR Oct. 21, 2021)

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)

Estimated Calendar Miner Delivery Dates

  • Q4 2021: 190 Miners
  • Q1 2022: 600 Miners
  • Q2 2022: 1100 Miners
  • Q3 2022: 300 Miners

.

About LUXXFOLIO

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

Follow us on:

  • Twitter at LuxxfolioH
  • The Company diligently posts updates through videos from the official company YouTube channel at: YouTube Channel
  • Please join the conversation on our LUXXFOLIO Holdings supporter's Telegram group at: https://t.me/Luxxfolio

Contact Information:

For more information, please contact:

Dean Linden, Chief Executive Officer

Tel: (604) 398-3837

Email: dlinden@luxxfolio.com

www.luxxfolio.com

The CSE has not reviewed and does not accept 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 be", "expected", or variations of such words and phrases or statements that certain actions, events, or results "will" occur. 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 may cause the actual results, level of activity, performance or achievements of the Company and its subsidiary to be 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. Accordingly, 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.

Disclaimer

Luxxfolio Holdings Inc. published this content on 25 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 05:39:05 UTC.


ę Publicnow 2021
All news about LUXXFOLIO HOLDINGS INC.
01/04LUXXFOLIO : Records a 31% Increase in BTC Equivalent Reserves
PU
2021Luxxfolio Holdings Inc. Reports Earnings Results for the Full Year Ended August 31, 202..
CI
2021LUXXFOLIO Finalizes Order for 500 New Generation Miners
AQ
2021Luxxfolio Holdings Inc. Finalizes Order for 500 New Generation Miners
CI
2021LUXXFOLIO Completes Bought Deal Financing
MT
2021LUXXFOLIO Closes $9.5 Million Bought Deal Financing
AQ
2021LUXXFOLIO Records Record Month of $1.8 Million in Mining Revenues
AQ
2021Luxxfolio Finalizes Order for Immersion-Cooling System for Crypto Mining Facility
MT
2021LUXXFOLIO Announces Purchase Order and Financing of Immersion-Cooling System
AQ
2021IIROC Trade Resumption - LUXX
AQ
More news
Financials
Sales 2022 26,7 M 21,4 M 21,4 M
Net income 2022 - - -
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 30,4 M 24,3 M 24,4 M
Capi. / Sales 2022 1,14x
Capi. / Sales 2023 0,70x
Nbr of Employees -
Free-Float -
Chart LUXXFOLIO HOLDINGS INC.
Duration : Period :
Luxxfolio Holdings Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 0,41 CAD
Average target price 1,20 CAD
Spread / Average Target 193%
Managers and Directors
Dean Linden Chief Executive Officer
Geoffrey McCord Chief Financial Officer
Kelly Klatik Chairman
Michael J. Byron Independent Director
Bradley Farquhar Independent Director
Sector and Competitors
1st jan.Capi. (M$)
LUXXFOLIO HOLDINGS INC.-13.68%24
ADOBE INC.-8.90%245 789
WORKDAY INC.-8.68%62 365
AUTODESK, INC.-9.55%55 950
ROPER TECHNOLOGIES, INC.-9.44%46 675
DATADOG, INC.-26.50%40 846