Luxor Technology Launches Logistics Division for Crypto Miners Ahead of Bitcoin Halving

According to Blockworks, Luxor Technology, a Bitcoin mining services firm, has launched a new division called Luxor Logistics to cater to the needs of crypto miners seeking better hardware transportation and management ahead of the upcoming Bitcoin halving. The division aims to provide a crypto-native, experienced international logistics provider, according to Lauren Lin, the company's director of business development. Luxor Logistics will offer international and US shipping via air and sea freight and trucking, customs clearance, insurance advisory, and warehousing solutions. The launch comes just months before the per-block rewards for Bitcoin mining are set to be cut in half, from 6.25 Bitcoin (BTC) to 3.125 BTC per block, in April 2024. This event, which occurs approximately every four years, is expected to put financial pressure on certain companies in the sector. Lin stated that miners are increasingly looking for efficient logistics solutions to improve their lead times so they can plug in hardware as quickly as possible. Historically, miners have used general freight forwarders or specialized crypto logistics companies with little or no crypto mining expertise. Luxor's new service aims to fill this gap by leveraging its own mining experience and understanding of equipment testing, packaging, and shipment arrangement for maximum efficiency. Luxor competitor Foundry Digital launched a logistics arm in July 2022, offering an all-in-one solution for mining hardware deliveries. Luxor Logistics is set to serve users of the company's trading desk for application-specific integrated circuits (ASICs) and has already provided logistics services to around 700 companies, transporting 112,000 Bitcoin mining ASICs to 30 countries.