Bitcoin miners’ move into AI is creating a new market for trading computing power
Luxor raised $16 million to expand into AI hardware and trading, betting that computing power will become a market where companies can hedge costs and prices.
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Summary
- Luxor Technology raised $16 million to expand its artificial intelligence hardware brokerage and computing-power trading business as bitcoin mining companies increasingly move into AI.
- Publicly traded bitcoin miners had signed more than $70 billion in AI and high-performance computing contracts by the end of March, according to CoinShares.
- Luxor found that most mining sites it assessed had adequate electricity and fiber connections for AI workloads but would need new data centers.
