Mr. Dean Linden reports

LUXXFOLIO INCREASES HASH RATE TO 138 PH/S

Luxxfolio Holdings Inc. received an additional 190 Bitmain S19J Pro miners this month, with over half being installed, bringing the hash rate to 138 petahashes (PH)/second. The remainder will be installed with the continuing build of phase one of the site expansion.

Luxxfolio Holdings continues to build on the core foundation of digital assets and industrial scale mining, and, to support this operational focus, the company has made the following executive appointments: Kelly Klatik as executive chairman, Ken MacLean as president, Kien Tran as chief operating officer and Anthony Wong as corporate secretary.

Dean Linden, co-founder and founding chief executive officer, will transition from CEO to the chief communication strategist of the company and will continue to deliver Luxxfolio content to the company's stakeholders and followers.

Mr. Klatik, executive chairman, MBA, ICD.D

Mr. Klatik has over 30 years of experience primarily in management within the financial and alternative asset sectors. He is a managing partner at Cypress Hills Partners, an alternative specialty lending firm, which he co-founded in 2014. Cypress Hills has financed in excess of $150-million in loans to borrowers across Canada and the U.S., which have adopted disruptive data-driven science or technology, including businesses within the bitcoin ecosystem. Prior to this, he was a co-founder and CEO of TSX Venture Exchange-listed (TSX-V) Falco Resources, a natural resource data mining play, which harvested a 100-year-old data set resulting in one of the largest digital data mining discoveries in Canada. Mr. Klatik received a bachelor of commerce in accounting from the University of Saskatchewan, an MBA from Royal Roads University and earned the institute of corporate directors designation (ICD.D) from Rotman School of Business.

Mr. MacLean, president, MBA

Mr. MacLean began working in the technology world with positions at IBM, Sun Microsystems and Digital, and has been active in the crypto markets since 2017. He has been an integral part of financing and building organizations across multiple industries including real estate, retail, heavy industry and technology, including virtual reality and crypto. Mr. MacLean has an MBA from the University of Calgary with a focus on new venture finance and technology.

Mr. Tran, chief operating officer, MBA

Mr. Tran founded Westblock Capital in 2017 as an integrated digital asset company where he built and operated an industrial scale mining facility. He has developed an extensive network of relationships in the crypto currency industry. Prior to Westblock, which was recently acquired by Luxxfolio, Mr. spent 15 years in investment banking and capital markets in New York, Toronto and Calgary, which includes running the energy derivatives trading desks for Barclays and Scotia in New York and Calgary. He has an MBA from the University of Chicago and a bachelor of commerce from the University of Calgary.

Mr. Wong, corporate secretary, JD

Mr. Wong has over 25 years of experience in the corporate finance and communications industry. His diverse skill set uniquely positions him to understand and work with a variety of businesses and ventures from law to technology to digital media, which includes seven years in private practice as a securities lawyer and nine years with the B.C. Securities Commission. Mr. Wong earned his law degree from the University of British Columbia.

Mr. Klatik commented: "We have put together a strong and nimble team, each of us with unique skill sets. Ken and Kien bring tremendous depth in the bitcoin mining space to the parent company from their early days with WestBlock, and most recently in the build out of the LUXX mining division. Anthony brings his regulatory and capital markets experience and I bring a background in the acceleration of disruptive innovative companies in Canada and the U.S. Together, we know we can execute on scaling Luxxfolio in its evolution as a digital asset company."

Options issuance

On Jan. 20, 2022, the company granted stock options to directors, employees and consultants of the company to purchase an aggregate of 2.078 million common shares in the capital of the company. The stock options are exercisable for a term of five years from the date of the grant at an exercise price of 45 cents per common share. The stock options were granted in accordance with the terms of the company's stock option plan and the policies of the Canadian Securities Exchange (CSE). The stock options will vest over a 24-month period and are subject to a four-month-and-one-day hold period from the date of the grant, in accordance with applicable securities laws.

Estimated calendar miner delivery dates:

• Q1 2022: 600 miners;
• Q2 2022: 1,100 miners;
• Q3 2022: 300 miners.

About Luxxfolio Holdings Inc.

Luxxfolio is a publicly traded vertically integrated digital asset company based in Canada. The company operates an industrial-scale crypto currency mining facility in the United States, running off mostly renewable energy with a focus on the blockchain ecosystem and generation of digital assets. Luxxfolio provides a liquid alternative for exposure to digital assets for the broader capital markets.

We seek Safe Harbor.