According to Woofun AI, Bitcoin mining infrastructure company Luxor Technology (Luxor Technology) successfully raised $16 million to extend the electricity, hardware, and transaction capabilities it has accumulated in the mining field to the artificial intelligence (AI) computing market.
Seattle-headquartered Luxor received financial support in a strategic investment round led by CMT Digital. Investors include companies such as MicroBT, Halo, and Steelhead as well as individual investors. The deal covered both the issuance of new shares and the transfer of existing shares.
According to data compiled by Woofun AI, the company has completed a Bitcoin mining special integrated circuit (ASIC) transaction of about 1 billion US dollars. Its energy business manages more than 75 megawatts of electricity demand in two US power grid regions, and the cloud platform has processed 1.8 million computational tasks as of September. Luxor's AI division, which was established as early as September, is working to apply its energy management and equipment distribution experience to the AI and high performance computing (HPC) markets. The funds raised will be used to expand the cloud platform, provide operating capital for the AI hardware business, expand the computational derivatives trading business, and recruit engineering and sales talent.
Notably, Luxor is also developing an over-the-counter (OTC) business that calculates resource rental prices based on AI, providing services such as cash settlement options and forward contracts by calculating the rental price index to help customers avoid the risk of price fluctuations.
Nick Hanson, co-founder and CEO of Luxor, pointed out that the computing market is being integrated, and the mines, power facilities, and capital originally used for Bitcoin mining are supporting the development of AI. Agencies such as Banque Populaire and Brenstein believe that mining companies' advantage in power infrastructure is expected to become their core competitiveness in the AI industry. As more and more mining companies switch to AI data centers, this paradigm shift from mining to intelligent computing indicates that computing power infrastructure is undergoing a profound restructuring of capital and resources.