Canadian crypto infrastructure firm Luxxfolio has filed a prospectus to raise up to 100 million Canadian dollars ($73 million USD) to enhance its Litecoin (LTC) treasury strategy. The company plans to acquire one million Litecoins by 2026. This move follows Luxxfolio's shift from Bitcoin mining to using Litecoin as its funding anchor.
Luxxfolio's financial health shows signs of strain, with no revenue and a net loss of approximately $197,000 in Q2, compared to an $8,000 loss in the same period last year. The company ended the second quarter with $112,000 in cash, relying on $844,000 in private equity funding to maintain operations, and has accumulated nearly $19 million in losses since 2017.
Luxxfolio Seeks $73 Million to Boost Litecoin Holdings
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