Bitcoin mining services firm LuxorTechTeam is launching a request-for-quote marketplace to directly connect sellers and buyers of mining rigs. egreechee reports.
As the bear market hit the sector, miners started selling more machines, further depressing prices. The price of mining rigs has dropped about 85% in the past year,In the new platform buyers and sellers can create requests for machines in an open-bid system and directly negotiate prices. Currently, the market operates primarily through brokers, including Luxor.
Compass Mining also aggregates listings for mining rigs on sale on a separate platform, however the volume is small, with listings mostly ranging between one to ten machines. Luxor will still be acting as a broker in deals struck through the platform, but other brokers can also sign up. Luxor will be taking a commission from the party who responds to the request, whether they are a seller or a buyer, which will also encourage market making on the platform, said Colin Harper, head of content and research at Luxor.Luxor's RFQ platform promises to unify the marketplace for bitcoin mining machines.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The false starts that aren’t false startsJust a single meaningful game remains in the 2022 NFL season, with the Kansas City Chiefs set to take on the Philadelphia Eagles at State Farm Stadium in Glendale, Arizona in Super Bowl LVII. That...
Read more »
Meet Ordinals, the New Bitcoin NFT Engine, and the Drama Surrounding Them – Featured Bitcoin NewsOrdinals, a project launched just a few days ago, has enabled anyone to create Bitcoin NFTs (called inscriptions) as part of its functionality, storing data directly on the chain.
Read more »
Tesla's SEC Filing Shows Bitcoin Fair Market Value of $191 Million – Featured Bitcoin NewsThe fair market value of Tesla's bitcoin at the end of 2022 was $191 million, according to the company's SEC filing. crypto cryptocurrency $BTC $TSLA
Read more »
GMC sells rights to first 2024 Hummer EV SUV as pre-production startsGMC's Hummer EV SUV starts deliveries soon, but the rights to the first example are already sold.
Read more »
House announces first hearing on 'Biden Border Crisis' as GOP kick-starts investigationsThe House Judiciary Committee is scheduled to hold its first hearing on the southern border crisis this week, kick-starting a number of GOP-led investigations into the Biden administration over the next two years.
Read more »
Bitcoin Stable Amid $23K Ahead of First FOMC Meeting of 2023: Market WatchPrevious interest rate hikes led to immediate price volatility for the crypto market, so today could be another such example.
Read more »