Luxor Technologies has announced the launch of Luxor Logistics, a new service aimed at supporting cryptocurrency miners in the procurement and global shipping of hardware. This move comes as the industry prepares for the upcoming bitcoin halving event, which is set to reduce mining rewards by half, against a backdrop of increasing regulatory scrutiny and the need for miners to diversify geographically.
Luxor Logistics seeks to address the complex challenges associated with international customs, offering streamlined solutions for miners. The timing of this launch is strategic, providing miners with crucial support during a period when the crypto market has been subdued and the importance of efficient operations is heightened.
Despite Foundry having previously launched a similar service, Luxor differentiates itself with its extensive experience in global shipping and its ability to secure preferential freight rates from its U.S. base. The company has already facilitated the delivery of over $245 million worth of mining rigs to more than 30 countries worldwide.
The introduction of Luxor Logistics complements Luxor's existing services, including its ASIC Trading Desk, which provides industry insights. The company's multifaceted approach aims to bolster miners' operations at a time when the bitcoin network is experiencing record hashrates and increased regulatory attention.
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