Crypto mining firm Luxor raises $16M as it expands into AI

Luxor Technology, a company that provides services to Bitcoin miners, has announced a $16 million investment round as it expands its artificial intelligence business. The funding brings together investors from the trading and mining industries. It also supports Luxor’s plans to apply some of the services it developed for miners to customers seeking computing power for AI. Mining investors join the AI push CMT Digital led the round, with Bitcoin mining equipment manufacturers Canaan and MicroBT among the investors. Halo, Steelhead, and several individual investors also participated, according to Luxor’s October 27 announcement. The $16 million figure is for new investment in Luxor and purchases of existing shares. The company did not say how much each category took, so the entire amount is not fresh cash for expansion.

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