Luxxfolio Adds 50 Litecoin Miners and Grows Its Treasury to 26,838 LTC
Luxxfolio Holdings (CSE: LUXX, OTCQB: LUXFF), the Canadian public company focused on Litecoin mining and treasury, just shared a new corporate update, and the numbers look strong. The company commissioned 50 more Bitmain Antminer L9 miners, paid for with cash from operations, and LuxxPool (luxxpool.luxxlabs.ca) is attracting more independent miners every day.
It's another sign that Litecoin mining in Canada can grow alongside a real Litecoin treasury.
50 more L9s in British Columbia
All 50 new machines are up and running at DMG Blockchain Solutions' Christina Lake site in British Columbia. They add about 832 GH/s of nameplate capacity, bringing Luxxfolio's fleet to 338 Scrypt miners and about 5.58 TH/s, a 17.4% increase in miner count. Paying for the expansion out of operating cash is a nice show of confidence in the Litecoin mining business.
LuxxPool keeps growing
Since its public beta launched on October 20, LuxxPool (luxxpool.luxxlabs.ca) has grown from serving Luxxfolio's own machines into a pool that independent miners are joining too. The pool is running about 7.7 TH/s across 520 workers, including about 2.1 TH/s from miners outside Luxxfolio's fleet. Since launch, it has averaged about 15 new accounts and 7 new miners a day.
The standard fee is 0.75%, and LuxxPool pays the payout network fees itself, so those don't come out of miners' earnings. It offers PPLNS and solo mining, with servers in the United States, Europe and Asia.
A growing Litecoin treasury
Luxxfolio's public dashboard shows estimated holdings of 26,838.23 LTC, with 3,599.13 LTC mined in total. Over the last 30 days, the company received 1,514.58 LTC, or about 50.49 LTC a day. Those Litecoin figures don't include other coins earned through merged mining.
Supporting the Litecoin Foundation
LuxxPool also gives 5% of its own fees to the Litecoin Foundation, at no cost to miners. That's a simple way for the pool to support the people who keep Litecoin moving forward, without asking miners to pay extra.
Wallet features on the way
LuxxWallet (luxxwallet.com) is the company's self-custody web wallet, and support for Litecoin's MWEB private transactions and LitVM is in development. More ways to use Litecoin make the mining and treasury story even stronger.
A new advisor
John Casey Wilson, the creator of Soqucoin, has joined Luxxfolio as an advisor. Soqucoin is merge-mined with Litecoin, and Wilson will advise the company on post-quantum resilience, network infrastructure and ecosystem development. He also continues to work with Luxxfolio on pool integration, wallet support and miner onboarding.
The big picture
Luxxfolio is doing the simple things well: mining more Litecoin in Canada, inviting other miners onto LuxxPool, growing its LTC treasury, and sending part of the pool's own fees back to the Litecoin Foundation. Every extra machine and every new miner pointing hashrate at Litecoin helps keep the network strong.
CEO Tomek Antoniak said the company is "continuing to strengthen our core Litecoin mining and treasury strategy." That focus is easy to see in this update.
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