BIGG Digital Assets divests of minority stake in bitcoin miner Luxxfolio

BIGG Digital Assets (OTCQX:BBKCF) has backed out of its minority investment in bitcoin (BTC-USD) miner Luxxfolio Holdings as the former seeks to minimize its exposure to the struggling industry, the company said Friday.The move followed Luxxfolio's announcement earlier this week that is started seeking "strategic alternatives" for its 15 megawatt bitcoin (BTC-USD) mining facility in New Mexico, according to a release. And if it does not find a partner for the mining operation, then the company "will consider all options including idling or a permanent shutdown of operations."The bitcoin (BTC-USD) mining space has gotten stung by depressed token prices as well as a rise in the network hash rate and electricity prices, resulting in miners' reduced profitability.Canadian-based BIGG (OTCQX:BBKCF), meanwhile, owns Netcoins, an online crypto brokerage, and Blockchain Intelligence Group, a develop of blockchain technology search, risk-scoring and data analytics solutions.In June, BIGG Digital Assets subsidiary launches cardano, solana, two other cryptos on platform.