Head of Content and Research
20 February 2023
Seattle, WA - February 20, 2023 – Luxor Technologies, a full-stack Bitcoin mining software and services company, has acquired OrdinalHub, the premiere platform building tools to buy, sell, and track Bitcoin-based NFTs.
Ordinals (also known as inscriptions) are Bitcoin-native NFTs. Since coming on to the scene in January of this year, ordinals have seen increasing adoption, with over 150,000 inscriptions to date, a 15000% increase from the beginning of February. Given Bitcoin’s security as the largest decentralized network and the fact that the actual media for the NFTs are fully-replicated on-chain, many NFT projects from other networks are quickly migrating to the Ordinal standard.
Minting and trading for all of these collections take place OTC on disparate Discord servers, making it difficult for collectors and creators to keep track of all of the projects in this fast moving sector. This makeshift escowing and trading environment makes onboarding difficult and also lends itself to high middleman fees.
OrdinalHub will tackle these issues by providing a central hub for the Ordinal community to search for projects, trade NFTs, discover new mints, and access educational materials. The Ordinal space is still very much in its infancy, and the market lacks robust, enterprise-grade solutions for indexing collections, escrowing trades, and facilitating price discovery.
In addition to its website, OrdinalHub also has a discord server, which already features notable projects like PunksonBitcoin, TaprootWizards, OrdRocks, OrdinalLoops, DeGods, and BitcoinShrooms which have already seen sale prices in excess of 10 BTC ($250,000).
“Ordinals provide a new and unique method to mint NFTs on the Bitcoin blockchain, and Luxor is proud to be a central player in this burgeoning movement,” Luxor CEO Nick Hansen said. “Ordinals have opened the door for exciting new monetization strategies for Bitcoin miners. There are natural synergies between Luxor’s mining pool and OrdinalHub, synergies that will uniquely position Luxor to build critical infrastructure for the industry to foster growth.”
Luxor Technology Corporation is a mining software and services company that offers a suite of products catered toward the mining and compute power industry. Luxor operates a global Bitcoin Mining Pool, Hashrate Derivatives, ASIC Trading Desk and Bitcoin mining data platform Hashrate Index. If you are interested in contacting the Luxor Pool team, please email [email protected].
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