https://ift.tt/3zM0m3G Launches Bitcoin ASIC Trading Desk

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The bitcoin mining services provider said it would purchase and sell rigs on behalf of its team and miners and investors on its network.

Luxor Technology Corporation has launched an ASIC trading desk to bridge the gap between interested buyers and sellers in the secondary market of bitcoin mining rigs. The bitcoin mining services provider said it would purchase and sell the application-specific integrated circuits for BTC mining on behalf of its team, miners, and investors to offer rigs at fair market prices.

“Our goal is to simplify the procurement process so our miners can spend more time building hashrate and less time worrying about how to find it,” said Alex Brammer, VP of business development, in a statement sent to Bitcoin Magazine. “Whether it’s an institutional miner replacing a fleet of new-generation machines or retail buying one rig, we are able to maximize our clients’ capital efficiency and minimize their risk.”

Luxor said the markets of bitcoin mining gear are usually opaque, inefficient, and filled with information asymmetry, which in addition to macroeconomic, regional economic, and market cycle conditions, often lead to increased volatility in prices across the primary and secondary markets.

“The Luxor ASIC Trading Desk will trade in these markets, taking principal positions in ASICs to help miners gain access to rigs at fair market prices,” Luxor said in a statement.

The trading desk is the latest addition to Luxor’s suite of bitcoin mining-related offerings. The company also offers its customers a data analytics solution, the Hashrate Index platform, that provides actionable insights into some vital metrics of the bitcoin mining industry, including miner revenue per hashrate and a comparison tool for the cost and efficiency of different mining rigs. The company revamped its Hashrate Index platform in December when it added the ability to denominate data in bitcoin and increased the scope of information the platform can analyze.

Luxor also offers a bitcoin mining pool and a profit-switching tool that allows its customers to employ computing power to different blockchains to increase margins while receiving payouts in bitcoin.