SEATTLE–(BUSINESS WIRE) – Luxor Technology Corporation (“LuxorToday announced the completion of a Series A valued at 5.0 million. In addition to leading the equity round, NYDIG will partner with Luxor on a range of mining-related ventures and hashrate-based products.
Mining companies Blockware Solutions, Celsius Network, DPO, Navier and Supplybit also take part in the equity round. In addition, Bitnomial, Hodl Capital and Routemaster participated alongside many strategic angel investors.
“At Luxor, we are incredibly honored and excited to be working with NYDIG to provide much-needed products and services to miners. Luxor is uniquely positioned to benefit from the industry’s tailwind, which is pushing the hashrate further to North America. With NYDIG’s exceptional track record, reputation and talent, we will be able to revolutionize the way hashrate is used, valued, traded and hedged. My co-founders Eddie Wang, Ethan Vera and Guzman Pintos and the rest of the Luxor team are eager to continue building, ”said Nick Hansen, CEO and co-founder of Luxor.
Luxor and NYDIG offer complementary products for the rapidly evolving mining industry. Both companies provide world-class services to miners looking to improve their operations and investors involved in mining. By joining forces on the product side, Luxor and NYDIG can further improve the mining solution and contribute to the growth of the North American mining industry.
“We are excited to lead this Series A funding round and look forward to working with Luxor to develop unique products and competencies for North American miners,” said Robert Gutmann, Co-Founder and CEO of NYDIG. “We are convinced of Nick’s vision and the ability of his team to drive and accelerate hashrate migration to North America and develop tools that can strengthen the Bitcoin ecosystem.”
The proprietary technology developed by Luxor has the potential to increase returns for miners. Luxor’s Switch software product is a win switching algorithm that maximizes revenue by switching between blockchains and venues to maximize hashrate rewards.
Luxor is a fast growing technology company shaping the future of hashrate as a raw material and building new generation digital pipelines for computing power. Learn more at Luxor.tech and on theirs Twitter.
NYDIG provides Bitcoin investment and technology solutions to insurers, banks, corporations, institutions and HNW individuals. The company and its products meet the highest regulatory, auditing and governance standards in the industry. Learn more at nydig.com, or connect to LinkedIn and Twitter.