Argo Blockchain invests $100,000 in Luxor Technologies

Argo Blockchain has now revealed that it will co-lead an investment in Luxor Technologies.

Luxor Technologies is a fully integrated Blockchain company. It runs mining pools for high-quality altcoins which include AION, Bitcoin, Pirate, Monero, Horizen, ZCash, and more.

Peter Wall, Chief Executive of Argo Blockchain, said, "We are delighted to be a maiden investor in Luxor as it builds innovative and efficient services for cryptocurrency mining and hashrate products. Our investment reinforces Argo’s commitment to be at the forefront of technological advances in our sector."

Ethan Vera, Co-Founder and CFO of Luxor, said, "Our team is thrilled to have Argo as an investor in this round. Our focus is on building valuable products for miners and having one of the best-in-class miners co-lead our round is validation that our strategy is working. We are excited to fundamentally change the way in which hashrate is traded."

Argo will invest around $100000 into Luxor Technologies.

The company as of now has plans to use the new funds in hiring new engineering talent to strengthen the development of its hashrate management platform.

Luxor, which supports more than 25000 miners across the globe, has mined around $45 million in cryptocurrency since it is being founded.