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Crypto mining company Luxor Technologies is recruiting institutional bitcoin store NYDIG as investor and partner.
Announced on Wednesday, Luxor closed a $ 5 million Series A funding round. In addition to leading the round, NYDIG will work with Luxor on “a number of mining-related and commodity-related businesses. hashrate, ”Luxor said in a press release.
“Luxor is uniquely positioned to capitalize on favorable industry winds as hashrate continues to migrate to North America,” said Luxor CEO Nick Hansen.
NYDIG CEO Robert Gutmann said: We were confident in Nick’s vision and the ability of his teams to drive and accelerate the hashrate migration to North America, as well as in instrument development. that can strengthen the Bitcoin ecosystem.
Luxor previously raised a $ 725,000 pre-seed round from mining company Argo Blockchain, cryptocurrency lender Celsius Network, the Bitnomial derivatives exchange and others.
NYDIG acquired Arctos Capital, a commercial lender focused on the bitcoin mining space, in April. Luxor’s investment appears to be NYDIG’s first in a crypto mining company.
An email to NYDIG has not been resent at press time.
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