Celsius Network, Argo Blockchain Back Pre-Seed Round for Bitcoin Mining Startup
February 16, 2021 by CoinSurges
Luxor Technologies will use the funds to expand its hashrate and hire more engineers.
Argo Blockchain, Celsius Network, derivatives exchange Bitnomial and others are backing a pre-seed investment in bitcoin mining startup Luxor Technologies.
- The Seattle-based startup raised $725,000 from a mix of strategic and angel investors.
- Argo’s investment specifically is “strong validation” of Luxor’s mining technology and plans for future growth, according to a statement from Luxor CEO Nick Hansen.
- Beyond its suite of mining pools, Luxor is also developing a data offering to serve as a hub for mining data visualizations.
- Argo has been a beta user of Luxor’s Equihash profit-switching technology since it launched last year, Argo CEO Peter Wall told CoinDesk. “We look forward to [Luxor] leading the way in best-in-class tech for crypto mining,” he said.
- Luxor plans to use the funding to make several engineering hires and continue expanding its hashrate under management (HUM) through 2021.
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