Bitcoin Mining Firm Luxor Launches ASIC Trading Desk – Mining Bitcoin News

The launch of an application-specific integrated circuit trading desk was announced by Luxor, a Washington-based Bitcoin mining company. According to the company, Luxor’s new trading desk will give miners and investors access to bitcoin ASIC mining rigs “at a fair market price.”

New York-Backed Mining Operations Luxor Announces ASIC Trading Desk Service

The bitcoin mining firm Luxor aims to purchase and sell bitcoin mining machines via the company’s new ASIC trading desk service. The press release published on Luxor’s web portal explains that the company “will purchase 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 the firm NYDIG in June 2021.

The 12th-largest mining pool, Luxor, has 0.46 percent of global hashrate (or 801.30 petahash/second) at the time of Wednesday’s writing. Luxor’s ASIC trading desk announcement details that the company is confident in its equipment procuring process.

“After moving tens of thousands of machines and serving miners across a few continents, we established a streamlined process for procuring equipment. Our multinational team has a deep network of ASIC manufacturers, re-sellers, miners, and investors,” Lauren Lin, Luxor’s operations manager remarked during the announcement.

The move to establish a mining rig trading desk follows Foundry’s mining machine marketplace announcement last December. The market is called Foundryx and the firm’s announcement claimed at the time that it had 40,000 mining machines ready for resale. Canaan disclosed that his company established an international after-sales office in Kazakhstan within the first week.

Luxor says the firm will take “principal positions in ASICs to help miners gain access to rigs at fair market prices. “Our ASIC Trading Desk is an important step on our roadmap to becoming a full-scope mining services firm,” Alex Brammer Luxor’s VP of business development explained. Brammer said:

Whether it’s an institutional miner replacing a fleet of new-generation machines or retail buying one rig, we are able to maximize our clients’ capital efficiency and minimize their risk. We aim to make procurement easier so miners spend less time looking for it and more time building it.

In this story, tags
Alex Brammer ASIC Manufacturers ASIC Trading Desk, ASICs Bitcoin Mining, BTC Mining Canaan, Crypto Mining, Foundryx Investors Kazakhstan Lauren Lin Luxor Miners Mining Firm Luxor Mining operation, Mining Operations nydig, resellers

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Jamie Redman

Jamie Redman is the News Lead for News. He also lives in Florida and works as a journalist covering financial technology. Redman joined the cryptocurrency community in 2011 and has been involved since then. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to News since September 2015. These articles are about disruptive protocols that are emerging.

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