LUXXFOLIO signs Crypto Climate Accord, reflecting commitment to green cryptocurrency mining and exchange
VANCOUVER, BC, Aug. 25, 2021 /CNW/ – LUXXFOLIO Holdings Inc. (the “Company” or “LUXXFOLIO”) (CSE: LUXX) (OTCQB: LUXFF) is pleased to announce it has signed the Crypto Climate Accord in commitment to environmentally sustainable digital asset mining, development, and exchange.
“Cryptocurrency is a transformative technology that will alter the landscape of our future financial system,” said LUXXFOLIO CEO Dean Linden. “At the same time, we have a responsibility to ensure that the future we’re creating is sustainable. That’s why we are proud to be joining the Crypto Climate Accord and be working to establish a cleaner, greener direction for digital assets.”
The Crypto Climate Accord is a private sector-led initiative inspired by the Paris Climate Agreement. With dozens of signatories including NGOs and representatives of the crypto, energy, and technology sectors, the Accord has set a target of 100% renewable-driven crypto activity for its members by 2025.
“We have been long-time believers in the importance of sustainable cryptocurrency operations,” said Ken MacLean, President of the LUXX Mining Division, which operates an industrial-scale cryptocurrency mining operation in New Mexico. “Through our partnership with the Navajo Tribal Utility Authority (“NTUA”), we are able to access some of the most affordable and environmentally friendly energy in the world. We look forward to expanding that partnership as members of the Crypto Climate Accord, and we encourage crypto companies everywhere to consider how they can operate as sustainably as possible.”
The LUXX Mining Division is currently undergoing a significant expansion that will double its power capacity and provide more mining capability. This expansion will continue to use sustainable power provided by the NTUA while expanding benefits such as local revenue and employment for members of the Navajo Nation.
Recent Company Highlights
- LUXXFOLIO began its active mining operation as announced on (NR July 28, 2021);
- With the addition of the 2,500 Bitmain S19j Pro bitcoin miners previously announced (NR May 27, 2021 and NR August 4 , 2021, LUXXFOLIO is now targeting Bitcoin production to be approximately 310 PH/s by Q3 2022 based on current miners on order;
- Construction is beginning on the expansion of the mining operation, which will increase power capacity to 15 MW and will provide the Company with the ability to push computing hash rates to more than 400 PH/s based on current technology and miner availability; and
- 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: 400 Miners
- Q4 2021: 600 Miners
- Q1 2022: 600 Miners
- Q2 2022: 600 Miners
- Q3 2022: 300 Miners
LUXXFOLIO Holdings Inc. is a CSE-listed company based in Canada that is a vertically integrated digital asset company. We operate an industrial scale cryptocurrency mining facility in the United States powered primarily by renewable energy with a focus on Bitcoin mining and generating digital assets on the blockchain ecosystem. LUXXFOLIO provides investors with a liquid alternative for exposure to digital assets like Bitcoin via the traditional capital markets.
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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 “anticipated”, “will be”, 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, 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.
SOURCE Luxxfolio Holdings Inc.
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