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

On January 11, 2022, a Bitcoin mining operation in Luxor, Washington announced the launch of a new Application Integrated Circuit (ASIC) trading desk. 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.”

NYDIG-backed mining operation in Luxor unveils ASIC trading desk service

The shorter bitcoin miner aims to buy and sell bitcoin miners via the company’s new ASIC trading desk service. The press release posted on the Luxor web portal states 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 Series A led by NYDIG in June 2021.

Furthermore, the shortest mining pool is the second largest at the time of writing on Wednesday, with 0.46% of the global hash rate or 801.30 petahashes per second (PH/s). The announcement of the ASIC trading desk in Luxor shows that the company is confident in the purchase of the equipment.

“After moving tens of thousands of machines and servicing miners across a few continents, we created a streamlined equipment procurement process. Luxor Operations Director Lauren Lin noted during the announcement that our multinational team has a deep network of ASIC manufacturers, retailers, miners, and investors.

The move to set up a trading desk for mining rigs follows the Foundry Mining Machine Market announcement last December. The market is called Foundryx and the company’s announcement at the time claimed it had 40,000 miners ready for resale. During the first week of June 2021, Kanaan revealed that the company has set up an overseas after-sales center in Kazakhstan.

Luxor says the company will take “key positions in ASICs to help miners access rigs at fair market prices.” Alex Brammer-Luxor, Vice President of Business Development, explained: “Our ASIC trading desk is an important step on our roadmap to becoming a full-scale mining services company.” Brammer added:

Whether it’s an institutional mining company replacing a fleet of new generation machines or purchasing a single retail excavator, we are able to increase our clients’ capital efficiency and reduce their risk. Our goal is to simplify the buying process so our miners can spend more time building the hash rate and less time worrying about how to find it.

Tags in this story

Alex Brammer, ASIC Manufacturers, ASIC Trading Desk, ASICs, Bitcoin Mining, BTC Mining, Canaan, Cryptocurrency Mining, Foundryx, Investors, Kazakhstan, Lauren Lin, Luxor, Miners, Mining Firm Luxor, Operation Mining, Mining Operations, nydig, re – sellers

What do you think of the ASIC Luxor Trading Desk? Tell us what you think about it in the comments section below.

Jimmy Redman

Jamie Redman is the head of news at Bitcoin.com News and a technology financial journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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