Luxor Technology, a firm originally focused on Bitcoin mining, secured $16 million in a strategic funding round. The investment was led by CMT Digital, with additional backing from hardware manufacturers Canaan and MicroBT, alongside Halo, Steelhead, and various angel investors.
The company plans to utilize the capital to expand its cloud platform, support its AI hardware operations, and grow its compute-derivatives trading business. Furthermore, the funds are earmarked for hiring new engineering and go-to-market staff to support these initiatives.
Luxor launched its AI segment in September, leveraging its existing infrastructure from the mining sector. The company reports that its hardware desk has traded $1 billion in ASICs, while its energy division manages over 75 megawatts of load. Its cloud platform processed 1.8 million workloads through September.
The firm operates an over-the-counter desk that provides cash-settled options and forwards on compute-rental indexes. This approach allows AI computing power to be priced and hedged as a financial instrument, mirroring the company's previous work in the digital mining space.
