$300K mcap crypto miner that paused ops earlier due to low BTCFor extreme gamblers! I would not bet anything I couldn't afford to lose 100% at these levels but there's risk of potentially outsized returns with Bitcoin on the rise and sort of positive update from the company.
NEWS RELEASE
VANCOUVER, BC – November 21, 2022 – LUXXFOLIO Holdings Inc. (the “Company” or “LUXXFOLIO”, which includes references to its subsidiaries) (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH), provides the following update regarding its indirect wholly-owned subsidiary Westblock, LLC (“WB LLC”).
WB LLC operates the Company’s Bitcoin mining facility (the “Facility”). Due to the negative pressures faced by the BTC mining industry, the Facility is generating insufficient revenues such that WB LLC will be unable to meet its current and future obligations. As a result, WB LLC has made the decision to idle the Facility’s operations as of November 23, 2022. This includes the termination of its immersion hosting agreements. The Company intends to continue to seek beneficial strategic opportunities in the digital assets industry.
