Bitcoin mining firm Luxor launches ASIC buying and selling desk

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On January 11, 2022, Washington-based bitcoin mining company Luxor announced the launch of a new application-specific integrated circuit (ASIC). According to the company, Luxor’s new trading desk will provide miners and investors with access to Bitcoin ASIC mining rigs “at a fair market price”.

NYDIG Backed Mining Operation Luxor Unveils ASIC Trading Desk Service

Bitcoin mining company Luxor intends to buy and sell bitcoin mining machines through the company’s new ASIC trading desk service. The press release published on Luxor’s web portal states 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 run by NYDIG in June 2021.

Additionally, at the time of writing on Wednesday, the Luxor mining pool is the twelfth largest mining pool at 0.46% global hashrate, or 801.30 petahash per second (PH / s). The announcement from Luxor’s ASIC trading desk shows that the company is confident in its equipment procurement process.

“After moving tens of thousands of machines and serving miners on several continents, we have established an optimized process for the procurement of equipment. Our multinational team has a deep network of ASIC manufacturers, resellers, miners and investors, ”remarked Lauren Lin, Operations Manager at Luxor, during the announcement.

The move to set up a mining rig trading desk follows the announcement of Foundry’s mining machine marketplace last December. The market is called Foundryx, and the company’s announcement at the time claimed it had 40,000 mining machines available for resale. In the first week of June 2021, Canaan announced that the company had set up an after-sales center abroad in Kazakhstan.

Luxor says the company will “hold key positions in ASICs to help miners gain access to oil rigs at fair market prices. “Our ASIC Trading Desk is an important step on our roadmap to becoming a full-scale mining services company,” said Alex Brammer Luxor’s VP of Business Development. Brammer added:

Whether it’s an institutional miner replacing a fleet of new generation machines or retailing a drill rig, we are able to maximize our clients’ capital efficiency and minimize their risk. Our goal is to simplify the procurement process so our miners can spend more time building hashrates and less worrying about how to find them.

Tags in this story

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, re- Seller

What do you think of the Luxor ASIC Trading Desk? Let us know what you think on this matter in the comments below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on the content, goods or services mentioned in this article.

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