Bitcoin Miner Luxor Raises $16 Million to Expand AI Compute Business
Bitcoin mining infrastructure firm Luxor has raised Luxor raises $16M from CMT Digital amid AI-Bitcoin miner convergence.
in a round led by CMT Digital, according to Cointelegraph and Decrypt. Mining-hardware makers Canaan and MicroBT also participated in the round, Decrypt reported.
Luxor plans to use the funds to scale its existing AI infrastructure business and expand GPU sourcing services amid constrained global chip supply chains, according to Cointelegraph. Decrypt reported the capital will also fund Luxor’s expansion into AI compute trading, hardware and derivatives. Luxor COO Ethan Vera told The Block the company plans to hire about 12 people by year-end as part of the expansion.
The raise comes as bitcoin miners increasingly move into AI, creating a new market for trading computing power, according to CoinDesk.
Separately, The Block reported that Datavault AI’s stock fell Datavault AI stock plummets 50% after firm says it cannot withdraw bitcoin tied to $150 million deal.
after the company said it could not withdraw bitcoin tied to a Datavault AI stock plummets 50% after firm says it cannot withdraw bitcoin tied to $150 million deal.
deal with Scilex. Under that agreement, Scilex had agreed to buy shares of Datavault AI for $150 million, payable in bitcoin, The Block reported.
Sources: Cointelegraph, Decrypt, CoinDesk, The Block
This article is for information only and is not financial advice.
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