In brief
- Luxxfolio is transitioning from Bitcoin mining to a digital asset treasury strategy centered on Litecoin, paired with infrastructure plans.
- It comes as the firm posted zero revenue and a net loss of $197,000 in Q2, with just $112,000 in cash and cumulative losses nearing $19 million.
- Litecoin treasuries may attract institutions if tied to usable infrastructure, but risks remain if they just sit on it, Decrypt was told.
Canadian crypto infrastructure firm Luxxfolio filed a shelf prospectus on Thursday to raise up to CAD$100 million (US$73 million), months after becoming the first publicly listed company to anchor its treasury in Litecoin following a broader pivot away from Bitcoin mining.
Luxxfolio views Litecoin “as hard currency,” CEO and Director Tomek Antoniak said in a statement.
“In our sector, scale is critical—the larger our treasury, infrastructure, and ecosystem footprint, the greater our ability to capture market share and influence adoption,” Antoniak said, adding that the shelf would give Luxxfolio “flexibility” to scale and meet market demands.
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Author: Vince Dioquino
