Bitcoin mining platform offers hardware purchase services to its users

Bitcoin mining platform offers hardware purchase services to its users

Luxor, a platform that provides various services related to the mining of bitcoin and other cryptocurrencies, now offers its users the possibility of acquiring hardware to mine bitcoin through a trading desk.

This service consists of facilitate the connection between buyers and sellers of mining hardware. To have access to said service, it is only necessary to be registered in the website of Luxor.

Upon entering the main page of brokerage de Luxor, you can see the variety of equipment available and their respective specifications, as well as some of the conditions that apply to the purchase of each model.

Bitcoin mining platform offers hardware purchase services to its users
Luxor clarifies on this website that the prices are referential and that it is essential to contact your team of advisors to have updated information in this regard. Source: Luxor

As can be seen in the previous image, the offer ranges from ASIC equipment, both new and used, to graphics cards (GPU). In fact, it is possible to purchase parts for this equipment, such as power supplies and heat sinks.

Process to buy mining hardware for Luxor users

To purchase hardware in this way, the customer must contact Luxor staff and agree on the hardware model they want, the number of units and the payment method, among other details. Once the availability of the equipment and its current price is confirmed, since the mining hardware market can be almost as volatile as the cryptocurrency market, then the buyer makes the payment to Luxor.

The company, as a mediator between the buyer and the hardware supplier, is responsible to the customer for the good condition of the equipment. Eric Vera, Customer Success Manager from Luxor, provided exclusive comments to CriptoNoticias in which he mentioned that They have personnel who verify on-site the state of the equipment before finalizing the purchase with its suppliers. This in order to inspire as much confidence as possible to its clientele.

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Bitcoin mining platform offers hardware purchase services to its users
Bitcoin mining platform offers hardware purchase services to its users
Erick Vera, Customer Success Manager at Luxor, explained to CriptoNoticias that the final purchase agreement depends a lot on the conditions presented by each seller. Fountain: Eric Vera / linkedin.com

Vera explained that each provider may require particular conditions, so some details such as the payment method (cryptocurrency or fiat), the minimum or maximum number of devices that can make up an order, among others, are different according to each negotiation.

The company has representatives in different regions worldwide with whom it is possible to coordinate each agreement. Regarding Latin America, Vera commented that the availability of this service may present limitations according to the legal system of the country where the hardware is directed. In his personal experience, Paraguay has been one of the countries where the import process flows better, thanks to its receptive policies with bitcoin mining.

Luxor’s reason for offering this mining hardware trading desk

Vera explained to CriptoNoticias that Luxor’s main motivation for launching this service derives from the need to expand your clientele. Users of its mining platform, both small and large, come to face difficulties when it comes to increasing the power of their farms with more and better equipment.

Between the small number of mining devices available from manufacturers and the high costs that these equipment acquire in the reseller market, the profit margin and possible growth for a miner who does not enjoy premium privileges is quite limited. Therefore, Luxor seeks to collaborate with the mining community through this hardware purchase service.

The mining hardware crises

Whether it’s specialized devices, like ASICs for mining bitcoin or other cryptocurrencies, or graphics cards capable of mining a variety of algorithms, miners try to get hold of as many units as possible. This is because the greater the number of devices, the greater the mining power, which eventually translates into higher profits.

It is a common thing to enter the websites of mining hardware manufacturers and run into a number of sold out models. Sometimes this happens in record time, like in 2017 with Bitmain’s Antminer D3. This was the first Dash miner designed by the Chinese manufacturer and it sold out in less than two hours on its website.

After the downward trend that the cryptocurrency market showed during 2018, many manufacturers of ASIC equipment reduced their production. This resulted in the fact that, after bitcoin tripled its price in the market, the demand for mining hardware exceeded the number of available devices. Back then, even used hardware doubled in value; as reported by CriptoNoticias at the time.

Bitcoin mining platform offers hardware purchase services to its users
The cryptocurrency mining boom of 2017 left aftermath that some ASIC and GPU manufacturers are still trying to fully overcome. Source: Alexander/stock.adobe.com

Another recurring case is that of GPUs, which are mostly used to mine ether (ETH), the native cryptocurrency of Ethereum. There is a thorn stuck in the heart of many gamers around the world, so graphics card shortage blamed on miners and the inflated cost that this equipment reaches given its high demand. A trend that started in 2017 and has been difficult to completely reverse.

AMD and Nvidia, the main manufacturers of video cards worldwide, have taken actions such as the production of specialized GPUs for mining and limitations applied to this type of hardware so that they do not yield good results when mining. However, GPUs remain difficult to acquire, either because retailers run out of inventory or because of the high price they can be obtained.

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