[December 24, 2020] Luxxfolio to acquire 590 bitcoin miners VANCOUVER, BC, Dec. 24, 2020 /CNW/ - Luxxfolio Holdings Inc. (the "Company") (CSE: LUXX) is pleased to announce that through their wholly owned subsidiary Luxxfolio Network Inc. ("Luxx Network"), has placed an order for 590 bitcoin miners ("Assets") with an aggregate operating hash power of 53.1 Petahash (PH) per second. The cost of the Assets is approximately USD$1,990 per unit or USD$1,174,100 and will be purchased through an asset backed lending ("ABL") structure sponsored by Arctos Capital out of San Francisco. Luxx Network, through its secured permission-based database will track, record and transact the hash power generated by the Assets. Luxx Network anticipates appointing a custodian to host these Assets which includes, but is not limited to, Ocean Falls Blockchain ("Ocean Falls"). The Company recently entered into a non-binding term sheet with Ocean Falls to acquire 100% of that entity, which is expected to close in the new year. In addition, the Company is negotiating with several other possible custodians in low-cost power jurisdictions with excess capacity.