On January 11, 2022, Luxor, the Washington-based bitcoin mining company, announced the launch of a new application-specific integrated circuit (ASIC) trading desk. According to the company, the new Luxor trading desk will give miners and investors access to bitcoin ASIC mining platforms “at a fair market price.”
NYDIG Luxor-backed mining transaction reveals ASIC trading desk service
Bitcoin mining company Luxor aims to buy and sell bitcoin mining machines through the company’s new ASIC trading desk service. The press release posted on Luxor’s web portal explains that the company “will buy and sell specialist Bitcoin mining equipment on behalf of the Luxor team, miners and investors.” Luxor recently raised $ 5 million in a Series A led by the NYDIG company in June 2021.
In addition, the Luxor mining pool is the 12th largest mining pool at the time of writing on Wednesday, with 0.46% of the global hashrate or 801.30 petahash per second (PH / s). The announcement from Luxor’s ASIC trading desk indicates the company is confident in its equipment purchasing process.
“After moving tens of thousands of machines and serving miners on a few continents, we’ve established a streamlined process for purchasing equipment. Our multinational team has an extensive network of ASIC manufacturers, resellers, miners and investors, ”said Lauren Lin, Luxor’s COO during the announcement.
The decision to establish a mining rigs trading desk follows the announcement of the Foundry mining machinery market last December. The market is called Foundryx, and the company’s announcement at the time said it had 40,000 mining machines ready for resale. In the first week of June 2021, Canaan revealed that the company has established an overseas after-sales center in Kazakhstan.
Luxor said the company would occupy “leading positions in ASICs to help miners access platforms at fair market prices. “Our ASIC Trading Desk is an important step on our roadmap to become a fully-fledged mining services company,” explained Vice President of Business Development Alex Brammer Luxor. Brammer added:
Whether it is an institutional miner replacing a fleet of next-generation machinery or a retail purchase of a platform, we are able to maximize our clients’ capital efficiency and minimize their risks. Our goal is to simplify the procurement process so our miners can spend more time creating hashrate and less time wondering how to find it.
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