Weekly Hashrate Market Update (September 03, 2024)

We are excited to announce that Luxor Derivatives is expanding its range of hashrate forward contracts by introducing contract tenors up to 12 months. This latest addition to Luxor’s hashrate derivative product suite reiterates our commitment to providing the hedging and financing tools from traditional commodity sectors to the Bitcoin mining industry. 

Starting September 2024, Luxor will offer both deliverable and non-deliverable hashrate forward contracts with tenors extending up to 12 months. This new offering builds on our history of cautiously and responsibly extending contract tenors, which began with 1-month contracts in October 2022, followed by 3-month contracts in January 2023, and 6-month contracts in July 2023. In 2024, our OTC derivatives desk has been active, settling an average of 1.4 EH per day and trading a cumulative 326 EH/s/Day.

Our long-term goal is to align hashrate contracts with the typical payback period of an ASIC investment, which averages to around 18 months. We are aiming to achieve this milestone in 2025, ensuring that Bitcoin miners have the tools they need to effectively manage their operations and investments.

Please note that contracts for durations between 6 and 12 months will be available exclusively for bespoke contracts and approved market participants; they will not be listed in Luxor’s Hashrate Forward Order Book.

Currently, Luxor's Bitcoin Hashrate Forward contracts are priced at ~$40.50 per PH/s/Day or 0.000575 BTC per PH/s/Day, for miners looking to hedge twelve months into the future or institutional investors looking to get exposure to Bitcoin mining.

We are excited about this new chapter and look forward to continuing to support the needs of the Bitcoin mining industry with innovative solutions.

Hashprice

Hashprice Constituents

Bitcoin Price

Network Difficulty

Transaction Fees

Block Subsidy

Footnotes

1. As at September 03, 2024 UTC 14:00. Values are subject to change.
2. Luxor estimates the adjustment date using average block times and blocks remaining in the epoch. Values are subject to change.
3. Luxor estimates the difficulty adjustment using average block times. Values are subject to change.

Disclaimer

This content is for informational purposes only, you should not construe any such information or other material as legal, investment, financial, or other advice. Nothing contained in our content constitutes a solicitation, recommendation, endorsement, or offer by Luxor or any of Luxor’s employees to buy or sell any derivatives or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the derivatives laws of such jurisdiction.