Ebene News – FI – Argo Blockchain unveils its investment in Luxor Technologies

Luxor designs software platforms designed to help cryptocurrency miners maximize their income through profit shift algorithms

Argo Blockchain PLC (LON: ARB) has said it will co-lead an investment in Luxor Technologies, a management platform designed to maximize the income of cryptocurrency miners

The AIM-listed crypto company said as part of the deal that it would invest $ 100,000 in Luxor, which the invested company will then use to recruit several key engineers to bolster the development of its platform. form of hashrate management and to build its proof working software infrastructure

The Luxor Switch software product is a profit switching algorithm that maximizes revenue by switching between blockchains and sites to maximize hash rewards The company supports over 28,000 cryptocurrency miners and has mined more $ 45 million worth of cryptocurrency since its inception, with Argo itself having used Luxor’s profit switching platform for its hashrate Equihash since its launch in 2020 Luxor is also considering the full launch of an algorithm to execution at the best price SHA-256 in 2021

“We are delighted to be a first-time investor in Luxor as it creates innovative and efficient services for cryptocurrency mining and hash products Our investment reinforces Argo’s commitment to be at the forefront of technological advancements in our industry, “said Peter Wall, CEO of Argo, in a statement.

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Peter Wall of Argo Blockchain PLC (LON: ARB) talks to Proactive London about an equipment lease with Celsius Network for 4,500 Bitmain Antminer S19 and S19 pro minors for a period of 24 months

Wall describes these machines as the “ latest and best machines ” available at a time.

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Ebene News – FI – Argo Blockchain unveils its investment in Luxor Technologies

Source: https://www.proactiveinvestors.co.uk/companies/news/937461/argo-blockchain-unveils-investment-in-luxor-technologies-937461.html