Luxor Introduces An RFQ Platform For Buying and Selling Bitcoin Miners
Key Points:
- The encryption software and service provider Luxor has revealed plans to build an online marketplace in the guise of an auction where Bitcoin mining hardware can be bought and sold.
- Buyers will be able to request orders on the site based on a variety of criteria, including condition, model type, location, and more; meanwhile, sellers will be able to combine orders from a variety of manufacturers and models.
The encryption software and service provider Luxor opened an online marketplace in the format of an auction on February 1 for the purpose of purchasing and selling Bitcoin mining hardware.
The encryption software and service provider Luxor has revealed plans to build an online marketplace in the guise of an auction where Bitcoin mining hardware can be bought and sold. Buyers will be able to make order requests on the site based on a variety of criteria, including location, condition, and model type. The same order might contain items from a variety of manufacturers and models, which can be mixed and matched by the seller.
According to the firm, the new offering would make price discovery easier and will contribute to an increase in the secondary market’s liquidity. Before, in order to acquire and sell mining hardware, buyers and sellers had to rely on a mishmash of different venues, as stated by Lauren Lin, who is the operations manager for Luxor. They can now observe offers, listings, and settlement costs all in one location, which promotes pricing transparency and speeds up the process of procuring mining hardware.
According to the business, the new offering will help raise liquidity on the secondary market while also facilitating better price discovery. Over the course of the past year, the industry has had to deal with dropping margins, which has resulted in lowering prices for ASIC mining rigs. In 2022, they saw a value decline of over 80 percentage points. In October, Luxor also introduced a derivatives product that was based on the revenue generated by bitcoin mining. The company stated that this was the first of “many derivatives” that it intends to provide in the future.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Chubbi
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Luxor Introduces An RFQ Platform For Buying and Selling Bitcoin Miners
Key Points:
- The encryption software and service provider Luxor has revealed plans to build an online marketplace in the guise of an auction where Bitcoin mining hardware can be bought and sold.
- Buyers will be able to request orders on the site based on a variety of criteria, including condition, model type, location, and more; meanwhile, sellers will be able to combine orders from a variety of manufacturers and models.
The encryption software and service provider Luxor opened an online marketplace in the format of an auction on February 1 for the purpose of purchasing and selling Bitcoin mining hardware.
The encryption software and service provider Luxor has revealed plans to build an online marketplace in the guise of an auction where Bitcoin mining hardware can be bought and sold. Buyers will be able to make order requests on the site based on a variety of criteria, including location, condition, and model type. The same order might contain items from a variety of manufacturers and models, which can be mixed and matched by the seller.
According to the firm, the new offering would make price discovery easier and will contribute to an increase in the secondary market’s liquidity. Before, in order to acquire and sell mining hardware, buyers and sellers had to rely on a mishmash of different venues, as stated by Lauren Lin, who is the operations manager for Luxor. They can now observe offers, listings, and settlement costs all in one location, which promotes pricing transparency and speeds up the process of procuring mining hardware.
According to the business, the new offering will help raise liquidity on the secondary market while also facilitating better price discovery. Over the course of the past year, the industry has had to deal with dropping margins, which has resulted in lowering prices for ASIC mining rigs. In 2022, they saw a value decline of over 80 percentage points. In October, Luxor also introduced a derivatives product that was based on the revenue generated by bitcoin mining. The company stated that this was the first of “many derivatives” that it intends to provide in the future.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Chubbi
Coincu News
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