LUXXFOLIO launches active operation for bitcoin mining

Luxxfolio, a vertically integrated BITCOIN miner, has announced that 80% of the company’s first drilling rigs have been launched and removed.
Vertical Geology at bitcoin mining company LUXXFOLIO Holdings said up to 80% of the first batch of miners were already operating and mining, the company announced earlier this month.
New machines for mining bitcoins, achieved on July 19, 2021, are currently running at a rate of about 41 petahash per second (PH/s). The company said it expects the remaining equipment to be loaded in the coming days.
LUXXFOLIO will also be the 4th edition of the year 2021. it announced that it had received approval for the drop in bulk prices of bitcoin mining facilities, which are scheduled for delivery for the quarter. The Set consists of 600 bitmain s19j pro rigs and is part of a larger purchase of 2,400 units ordered in May. The company reported that the price drop was $ 705,000, 28% less than the total purchase costs.
CEO Dean Linden comments on price cuts, citing bitcoin crackdown in China:
“not only are we operating in very favourable conditions with network problems at or near a 52-week low, but the recent mining restriction in China has also led to a drop in mining equipment prices that we can perfectly correct.”;
In the past few months, China has taken stricter measures to combat mining and bitcoin trading. As a result, exchanges were censored, miners were ordered to shut down, and financial institutions were banned from offering bitcoin services.
But a more tangible result for Bitcoin was the increase in the overall hash rate. A “major ASIC exodus” followed in China, with large numbers of bitcoin miners moving their operations overseas, while Bitmain has been halting the sale of drilling rigs for some time.
Although this represents a short-term compromise for bitcoin, miners far from Chinese territory will be profitable in the long run. The more Bitcoin hash rate is distributed abroad, the higher the decentralization of mining

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