LUXXFOLIO Begins Active Mining Operation

(CSE: LUXX) (OTCQB: LUXFF)

Luxxfolio has announced 80% of the first batch of miners received and announced earlier this month are installed and running at the site. The new miners are running at approximately 41 PH/s (approximately 2 BTC mined to date) with the installation of the remaining miners expected in the coming days.

In addition, the Company has received confirmation of a price reduction on the near-dated portion of the Q4 2021 deliveries related to the Bitmain S19j Pro bitcoin miners order that was announced in May 2021. As part of the original purchase of the New Miners, the Company was granted price protection in the event of any material spot price declines. The price reduction totals USD$705,000, which represents a 28% decrease in the acquisition cost of our mining equipment slated for near-term delivery.

Dean Linden, CEO of LUXXFOLIO commented, "Not only are we operating in an extremely favourable environment with network difficulty at or near a 52-week low, but the recent curtailment of mining in China has also created a decline in mining equipment prices, which we have been perfectly positioned to capture."

Source: https://finance.yahoo.com/news/luxxfolio-begins-active-mining-operation-130000831.html

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