NYDIG Leads $5M Funding Round for Mining Firm Luxor

Additional investors in the Series A round include: Bitnomial, Hodl Capital and Routemaster.

article-image

Luxor CEO and founder Nick Hansen

share

key takeaways

  • NYDIG will collaborate with Luxor on a number of mining-related ventures and hashrate-based products
  • Luxor has plans in store to supercharge returns for bitcoin miners

Luxor Technologies, a bitcoin mining firm, raised $5 million in a Series A funding round, the company announced in a press release this week.

“Luxor has been running for quite a while. [However], this is going to give us the catalyst we need to start sprinting,” CEO and founder Nick Hansen said in an interview with Blockworks.

NYDIG, who led the funding round, will collaborate with Luxor on a number of mining-related ventures and hashrate-based products, according to the announcement.

Hansen said that NYDIG, the digital asset subsidiary of Stone Ridge Asset Management, and Luxor have big plans in store to supercharge returns for bitcoin miners as well. 

“At Luxor, we view hashrate as an asset class as itself, meaning that it has some value that changes overtime and we would like to be able to give miners the ability to hedge that asset,” Hansen said.

Some noteworthy investors in the Series A round include: Bitnomial, Hodl Capital and Routemaster. 

“We’re pleased to lead this Series A funding round and are thrilled to partner with Luxor to develop first-of-their-kind products and competencies for North American miners,” said NYDIG CEO and co-founder Robert Gutmann in the release.

Luxor has initially raised $725,000 in a pre-seed round in February.

Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

morpho 2 graphic.png

Research

Utilizing a ‘DeFi Mullet’ approach, Coinbase’s Bitcoin-backed loans integration with Morpho demonstrates a powerful blueprint for CEXs to monetize dormant assets by expanding adoption of wrapped products (cbBTC, USDC) while also supporting native and/or preferred DeFi ecosystems (Base) which can further lead to downstream growth in onchain liquidity and increased utilization of the related assets.

article-image

The platform also rolled out 13 tokenized funds for institutions on the Connect platform

article-image

The company’s expanded lineup introduces new ETF products, as more and more issuers get into crypto funds

article-image

President Donald Trump announced a 10% levy on almost all goods and additional tariffs on so-called “worst offending” countries

article-image

Solana may be in “recomposition” mode, as new protocols put usefulness ahead of mere virality

article-image

The stablecoin issuer will have to contend with bigger players and the interest rates environment

article-image

The president reportedly was still working on his tariff policy plans late Tuesday evening