Luxor launches auction platform for trading Bitcoin miners

Luxor, a service-mining company, has unveiled a marketplace for buying and selling equipment used to mine Bitcoin.

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A Request-for-quote (RFQ) marketplace allows its users to create orders (requests) for specific items. For Luxor RFQ, this means an open marketplace for buying and selling Bitcoin mining equipment.

— Luxor Mining (@LuxorTechTeam) February 1, 2023

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The RFQ marketplace allows users to create orders for specific items by model, condition, location of devices and other criteria. Sellers can mix in a single quote devices from different manufacturers.

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Miners have historically traded ASICs over-the-counter in an opaque and regionally fragmented market. Luxor’s RFQ will bring cohesion and transparency to the market by giving buyers, sellers, and brokers a central hub to coordinate orders, bids, and sales.

— Luxor Mining (@LuxorTechTeam) February 1, 2023

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\”Historically, ASIC miners traded over-the-counter in an opaque and regionally fragmented market. Luxor RFQ will provide integrity and transparency to it by giving buyers, sellers, and brokers a centralized hub to coordinate orders, bids, and sales,\” the company said.

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Within a few hours of the marketplace launch, Luxor reported that trading volume had already surpassed $1.6 million.

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Within the first few hours of launch, Luxor request-for-quote surpassed $1.6mm in ASIC traded volume. 🔥 pic.twitter.com/kmcNABjEzc

— Luxor Mining (@LuxorTechTeam) February 1, 2023

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According to Hashrate Index, the company’s analytics division, bitcoin miner prices remain near the lows that were reached by the end of 2022. The cost of latest-generation equipment with energy efficiency above 38 J/TH is $14.56 per 1 TH/s of hash rate.

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In January, mining difficulty rose to a new maximum level of 39.35 TH, weighing on miners’ profits. Profitability for their business was supported by Bitcoin’s price, which in the first month of the year rose by almost 40%.