Luxor Technology Releases A New Hosting Bitcoin Mining Marketplace
- Luxor technology noted that miners can use the hosting marketplace without necessarily buying the ASIC from them.
Luxor technology has launched a hosting marketplace for Bitcoin miners. Henceforth, Bitcoin miners can buy hosting services that suit their mining rigs through the newly launched marketplace.
The company launched its brokerage service early this year. With the first half of the covered, Luxor technology noted that miners can now use the hosting marketplace without necessarily buying the ASIC from them.
Nevertheless, the company says it has strong connections to the major ASIC manufacturers. Thereby, Bitcoin miners should rest assured Luxor technology is a one-stop house.
Closer Look at Luxor Bitcoin Mining Marketplace
The crypto mining industry is evolving as fast as the adoption is getting intense in most parts of the world. As for the Bitcoin mining industry among other PoW coins, the overall mining difficulty is rising by the day.
It is safe to bet that Luxor will be making profits in less than a decade. Moreover, most of the successful crypto firms have only existed as far as Bitcoin has lived in the past decade.
The company noted that users can use filters including future capacity, region, rack space, energy sources, immersion versus air-cooled features, and power costs to enhance the interface capabilities on the marketplace.
Luxor’s business development director, Aaron Foster, said, “miners can use Luxor’s hosting marketplace to select hosting providers that suit their needs operationally and geographically.” He also said, “Luxor wants to offer a unique service to make hosting decisions seamless instead of a general approach for everyone. This hosting marketplace is an important aspect of the full-stack that Luxor is building.”
In the last couple of months, miners have faced infrastructure and power supply challenges. Some have even been struggling with the capital to expand their operations. There aren’t enough places that can provide power for mining operations.
Luxor’s operations manager, Lauren Lin, told the media that various reasons had caused general delays in building the necessary infrastructure. Those reasons include insufficient power supply, complex operational processes, and supply chain constraints.
Hence, most investors have sought hosting choices from reputable miners to start and keep their businesses running. Some investors that have opted for this method include high-net-worth individuals, hedge funds, and family offices.
Notably, data centers provide hosting as a service for crypto miners. Thus, these miners can store their ASICs, and mine any digital asset they choose for an agreed fee. Reportedly, it saves them the cost and time to build the necessary infrastructure by themselves. This will also encourage more investors into the crypto mining business.
Luxor claims miners can enjoy better power rates from bitcoin mining hosting than at home. The company’s partners provide several rate plans and sharing arrangements for revenue or profit.
They also have different GPU and ASIC hosting plans. Luxor’s new marketplace will offer hosting clients across US and Canada. Also, some of Luxor’s providers can host at least one of the miner’s mining rigs.