luxor

The Bitcoin mining infrastructure company Luxor announced the expansion of its hardware business from ASICs to GPUs and AI server fields, further extending its procurement, logistics, and financing capabilities to the high-growth artificial intelligence and high-performance computing (HPC) markets.Luxor stated that the core bottleneck currently faced by the industry is the actual shortage of deployable computing power, while mining companies have unique advantages in transitioning to AI data centers, including power contracts, sites, and advanced cooling systems. Since its establishment, Luxor has procured over $750 million in ASICs for Bitcoin miners, and this experience will now be extended to GPU and server procurement, providing end-to-end solutions that include new, refurbished, and used equipment.Its channels cover major manufacturers such as Dell, HPE, Lenovo, and PNY, and are supported by U.S. warehousing, international logistics, equipment installation, and hosting construction capabilities. Luxor pointed out that the global Bitcoin mining network currently has data center capacity close to 20GW, with an additional 10GW of potential expansion space, of which 35%-40% is located in the United States.As mining companies gradually shift some capacity towards AI and HPC hosting, Luxor will also adjust its service structure accordingly. As the only mining pool with comprehensive financing and hedging capabilities, Luxor can assist miners in obtaining GPU procurement funds through computing power and can provide structured financing such as sale-leaseback through partners. Additionally, its Tenki cloud computing marketplace can help operators immediately monetize computing resources once the hardware is online.Luxor stated that the company has built a full-process infrastructure network covering tax-advantaged warehousing in Montana and Delaware, OEM installation, warranty management, export control compliance, and old equipment disposal, aiming to meet the multi-billion dollar capital investment needs of customers in the AI and HPC era.

ChainCatcher news, according to The Miner Mag, Luxor has partnered with Canaan to provide financing support for Bitcoin mining machines. The first project of this collaboration helped a U.S. institutional miner procure over 5,000 Avalon A15 Pro mining machines in August. The financing plan offers competitive interest rates and lower collateral requirements, with funds coming from Luxor's lending partners. As the hardware arms race among North American Bitcoin mining companies cools down, Canaan hopes to promote institutional adoption of its equipment through financing options and support sales growth.

ChainCatcher news, according to CoinDesk, Bitcoin mining company Luxor Technology's Director of Business Development Aaron Forster stated in an interview at the Consensus festival that cryptocurrency mining is being accepted and naturally evolving into other markets, with large miners transforming into power infrastructure providers for artificial intelligence rather than building large mines.The Bitcoin mining business is a stepping stone to larger, more capital-intensive industries like artificial intelligence, which excites me because it allows Bitcoin mining to be more widely accepted.

ChainCatcher news, Luxor Technology Corporation has signed a $131.4 million agreement with Bitcoin mining manufacturer MicroBT, which includes a confirmed purchase of $93.2 million worth of Whatsminer ASIC Bitcoin miners, with an option to purchase an additional $38.2 million. These ASIC miners will utilize a combination of immersion, air cooling, and water cooling systems designed to improve efficiency.The announcement states that the agreement supports MicroBT's expansion in the United States, where the company has begun assembling miners domestically. Previously, Bitmain also launched a production line in the United States.

ChainCatcher news, according to CryptoSlate, Luxor Technology and Bitnomial launched the first fully regulated Bitcoin mining derivative "Bitcoin Hashrate Futures" in the United States on May 28.It is reported that the product trading code is HUP, allowing miners to hedge their income and providing investors with a new way to enter the Bitcoin mining market. Each contract represents 1 PH, with a duration of one month, and settlement is based on Luxor's Bitcoin Hashprice Index.

ChainCatcher news, Bitcoin miner Luxor has acquired the Bitcoin NFT development platform OrdinalHub. Luxor stated that it hopes to become a "core participant" in the "emerging movement," noting that the emerging market still lacks "robust enterprise-level solutions for indexing collections, custodial trading, and facilitating price discovery." Luxor and OrdinalHub will continue to operate as independent brands.Luxor's CEO stated that Ordinals have opened new monetization strategies for Bitcoin miners. There is a natural synergy between Luxor's mining pool and OrdinalHub, which will place Luxor in a unique position to build critical infrastructure for the industry to promote growth.It is reported that the company has been gradually expanding its product offerings in the Bitcoin mining sector, launching a mining machine auction platform earlier this month and introducing derivatives based on Bitcoin mining revenue last October. (The Block)

ChainCatcher news, according to The Block, Bitcoin mining company 360 Mining has announced the completion of a new funding round of $2.25 million, with participation from Luxor and BT Growth Capital. The new funds will be used to increase natural gas production and mining capacity.It is reported that 360 Mining completed a $6 million seed round of financing in October 2021 and currently operates a 2-megawatt site in Texas, expecting to increase by 90 PH/s by the first quarter of 2023. The new funds will enable it to increase natural gas production eightfold. (The Block)

ChainCatcher news, according to CoinDesk, a large surplus of Bitcoin mining machines is sitting idle, as crypto mining has been hit hard by the decline in prices of Bitcoin and other tokens, along with high energy costs. According to a conversation between CleanSpark (CLSK) Executive Chairman Matt Schult and analysts, it is estimated that there are still 250,000 to 500,000 mining machines sealed and idle in the United States.Ethan Vera, Chief Operating Officer of mining services company Luxor Technologies, put the global number at 276,000 in September. Additionally, sources indicate that mining company Core Scientific has raised its hosting fees by 20%, recently reaching 25%. (source link)