Bitcoin Mining Firm Luxor Launches ASIC Trading Desk

Bitcoin Mining Firm Luxor Launches ASIC Trading Desk

On January 11, 2022, the Washington-based bitcoin mining operation Luxor introduced the launch of a brand new application-specific built-in circuit (ASIC) buying and selling desk. According to the corporate, Luxor’s new buying and selling desk will give miners and traders entry to bitcoin ASIC mining rigs “at a good market value.”

NYDIG-Backed Mining Operation Luxor Reveals ASIC Trading Desk Service

The bitcoin mining agency Luxor goals to buy and promote bitcoin mining machines through the corporate’s new ASIC buying and selling desk service. The press release revealed on Luxor’s internet portal explains that the corporate “will buy and promote specialised Bitcoin mining {hardware} on behalf of the Luxor staff, miners and traders.” Luxor lately raised $5 million in a Series A led by the agency NYDIG in June 2021.

Furthermore, the Luxor mining pool is the twelfth largest mining pool on the time of writing on Wednesday, with 0.46 % of the worldwide hashrate or 801.30 petahash per second (PH/s). Luxor’s ASIC buying and selling desk announcement particulars that the corporate is assured in its gear procuring course of.

“After shifting tens of hundreds of machines and serving miners throughout just a few continents, we established a streamlined course of for procuring gear. Our multinational staff has a deep community of ASIC producers, re-sellers, miners, and traders,” Lauren Lin, Luxor’s operations supervisor remarked through the announcement.

The transfer to ascertain a mining rig buying and selling desk follows Foundry’s mining machine market announcement final December. The market known as Foundryx and the agency’s announcement claimed on the time that it had 40,000 mining machines prepared for resale. During the primary week of June 2021, Canaan revealed the corporate has established an abroad after-sales heart in Kazakhstan.

Luxor says the agency will take “principal positions in ASICs to assist miners achieve entry to rigs at truthful market costs. “Our ASIC Trading Desk is a crucial step on our roadmap to changing into a full-scope mining providers agency,” Alex Brammer Luxor’s VP of enterprise growth defined. Brammer added:

Whether it’s an institutional miner changing a fleet of new-generation machines or retail shopping for one rig, we’re capable of maximize our shoppers’ capital effectivity and reduce their threat. Our purpose is to simplify the procurement course of so our miners can spend extra time constructing hashrate and fewer time worrying about learn how to discover it.

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