Canadian Firm Luxxfolio Plans $73M Raise to Expand Litecoin Treasury Strategy
The post Canadian Firm Luxxfolio Plans $73M Raise to Expand Litecoin Treasury Strategy appeared on BitcoinEthereumNews.com. 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. Once approved, Luxxfolio’s shelf prospectus will enable it to raise funds over 25 months through the issuance of shares, debt, or other securities. The latest filing follows Luxxfolio’s move in July to begin disclosing its Litecoin purchases, with a strategic advisor confirming earlier this month that the company is targeting a total of 1 million LTC by 2026. Litecoin creator Charlie Lee, meanwhile, joined its advisory board in late June. Luxxfolio, like others jumping on the crypto treasury trend, is positioning its strategy around reserves and infrastructure, despite its financials being in poor shape, marked by mounting losses and limited liquidity for its stock. Key signs of strain include no revenue, a net loss of approximately $197,000 for the second quarter, compared with a net loss of $8,000 in the same period a year…
The post Canadian Firm Luxxfolio Plans $73M Raise to Expand Litecoin Treasury Strategy appeared on BitcoinEthereumNews.com.
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. Once approved, Luxxfolio’s shelf prospectus will enable it to raise funds over 25 months through the issuance of shares, debt, or other securities. The latest filing follows Luxxfolio’s move in July to begin disclosing its Litecoin purchases, with a strategic advisor confirming earlier this month that the company is targeting a total of 1 million LTC by 2026. Litecoin creator Charlie Lee, meanwhile, joined its advisory board in late June. Luxxfolio, like others jumping on the crypto treasury trend, is positioning its strategy around reserves and infrastructure, despite its financials being in poor shape, marked by mounting losses and limited liquidity for its stock. Key signs of strain include no revenue, a net loss of approximately $197,000 for the second quarter, compared with a net loss of $8,000 in the same period a year…
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