Bitcoin Mining Firm Luxor Raises $16 Million to Scale Its AI Compute Push

In brief

• Luxor Technology raised $16 million in a strategic round led by CMT Digital, with participation from Canaan, MicroBT, Halo, Steelhead and angels, to scale its push into AI computing power.
• The raise follows the September launch of Luxor AI, which extends Luxor’s Bitcoin-mining stack—energy, hardware, software and trading—into AI.
• Funds will scale its cloud platform, AI hardware business and compute-derivatives desk, fitting a broader miner-to-AI pivot.

Luxor Technology, a company that built its business around Bitcoin mining, has raised $16 million to expand into the fast-growing market for AI computing power, the latest sign of crypto infrastructure firms pivoting toward artificial intelligence.

The Seattle-based company said the strategic round was led by CMT Digital, the venture arm of Chicago’s CMT Group, with participation from mining-hardware makers Canaan and MicroBT, as well as Halo, Steelhead, and angel investors.

The round combined primary and secondary capital, and Luxor framed each backer as an operating partner already embedded in the compute supply chain it serves, across hardware, capital, and power.

The raise follows the September launch of Luxor AI, a segment that extends the energy, hardware, software and trading stack Luxor built for Bitcoin mining into the AI and high-performance computing market. The company brings a sizable operating history to the effort: its hardware desk has traded $1 billion of mining ASICs, its energy arm services more than 75 megawatts of load across two U.S. grid regions, and its cloud platform had processed 1.8 million workloads so far this year as of September.