On January 11, 2022, Washington-based bitcoin miner Luxor announced the launch of a new application-specific integrated circuit (ASIC) trading desk. According to the company, the new trading desk in Luxor will allow miners and investors to access ASIC bitcoin mining rigs “at a fair market price.”
NYDIG Luxor Backed Mining Deal 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 the Luxor web portal explains that the company will “buy and sell specialized Bitcoin mining hardware on behalf of the Luxor team, miners and investors.” Luxor recently raised $5 million in a Series A led by NYDIG in June 2021.
Additionally, the Luxor mining pool is the 12th largest mining pool at the time of Wednesday’s writing, with 0.46% of the global hashrate or 801.30 petahash per second (PH/s). The announcement from Luxor’s ASIC trading desk clarified that the company is confident in its equipment procurement process.
“After moving tens of thousands of machines and serving miners on a few continents, we have implemented a streamlined process for purchasing equipment. Our multinational team has an extensive network of ASIC manufacturers, resellers, miners and investors,” Luxor COO Lauren Lin remarked during the announcement.
The move to establish a mining rig trading desk follows Foundry’s mining machinery market announcement last December. The market is called Foundryx and the company’s announcement at the time claimed that it had 40,000 mining machines ready for resale. In the first week of June 2021, Canaan disclosed that the company has established an overseas after-sales center in Kazakhstan.
Luxor says the company will take “core positions in ASICs to help miners access rigs at fair prices. “Our ASIC trading desk is an important milestone on our roadmap to becoming a full-fledged mining services company,” explained Vice President of Business Development for Alex Brammer Luxor. Bramer added:
Whether it’s an institutional miner replacing a fleet of next-generation machines or a retailer purchasing a rig, we are able to maximize our clients’ capital efficiency and minimize their risks. Our goal is to simplify the sourcing process so that our miners can spend more time building a hashrate and less time worrying about how to find it.
What do you think of the Luxor ASIC trading desk? Let us know what you think about this topic in the comments section below.
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