#United States #Seattle #WhatsMiner #Luxor Technology #MicroBT

Strategic Collaboration in Bitcoin Mining

Luxor Technology Corporation, a recognized leader in the Bitcoin mining sector, has recently entered into a strategic partnership with MicroBT, one of the most acclaimed manufacturers of Bitcoin mining hardware. This collaboration involves a substantial investment of $131.4 million, aimed at boosting the efficiency and capability of Bitcoin miners across North America.

Details of the Agreement

The agreement consists of a confirmed purchase of $93.2 million worth of WhatsMiner ASICs, coupled with an option to procure an additional $38.2 million worth of advanced mining hardware. The ASIC models involved will include a mix of MicroBT's latest immersion, air-cooled, and hydro-cooled WhatsMiner units, recognized for their exceptional efficiency metrics. This strategic move coincides with MicroBT's ongoing efforts to expand its footprint in the United States, including local assembly of mining equipment.

Insights from MicroBT’s CEO

Dr. Zuoxing Yang, the founder and CEO of MicroBT, expressed enthusiasm over the significant order from Luxor. He stated, “We are delighted to receive a major order from Luxor, a leading mining service company in North America, following the introduction of our new models. This reflects the trust partners place in WhatsMiner and our dedication to cultivating the Bitcoin mining industry.” He emphasized MicroBT's experience with Bitcoin ASICs and a commitment to domestic production, aiming to deliver superior products and services to local clients.

Luxor’s Expansion in ASIC Trading

Nick Hansen, co-founder and CEO of Luxor Technology, highlighted the company’s determination to solidify its ASIC Trading Desk capabilities. He stated, “We are thrilled to deepen our relationship with MicroBT. This year, we have traded an average of $1 million in hardware daily, contributing to our goal of being the most liquid counterparty in the ASIC trading industry. Our focus remains on efficiently handling large-volume transactions in a competitive landscape.”

The partnership also marks a notable expansion in Luxor’s operational strategies following its establishment of the ASIC Trading Desk in 2024. This Desk is strategically positioned to support Luxor’s extensive partner network of miners and investors, allowing for improved service delivery in the trading of ASICs.

About Luxor Technology

Luxor Technology Corporation is primarily focused on providing software and services within the Bitcoin mining landscape. Its offerings include an open auction ASIC Marketplace, a robust Bitcoin mining pool, a Hasrate Derivatives Desk, ASIC firmware solutions, and a comprehensive Bitcoin mining data platform. Luxor is committed to innovation and transparency in the burgeoning cryptocurrency space.

About MicroBT

Founded with a solution-focused approach to blockchain technology, MicroBT operates at the forefront of the Bitcoin mining hardware sector. The company has gained recognition for its high-performance WhatsMiner brand, combining efficiency and cost-effectiveness, and is aimed at servicing both retail and institutional demand in the mining market. Their continuous efforts to initiate manufacturing in the United States represent a significant pivot towards localized services in response to the growing demand for Bitcoin mining solutions.

Conclusion

As both companies embark on this noteworthy partnership, the implications for the Bitcoin mining industry are significant. The enhanced capabilities provided by this collaboration are expected to promote sustainable practices and foster growth in the sector, all while meeting the increasing demands of the market. This merger not only signifies a step towards more effective mining solutions but also highlights the evolving landscape of Bitcoin technology and supply chain innovation.