Luxor Raises $16 Million From CMT-Led Group to Expand AI Business
Luxor Technology raised $16 million in a strategic investment round led by CMT Digital to expand its artificial intelligence hardware, cloud computing and trading businesses, extending its operations beyond Bitcoin mining.
Canaan (NASDAQ: CAN), MicroBT, Halo, Steelhead and angel investors participated, the Seattle-based company said in an October 27 statement. The transaction includes both primary and secondary capital. Luxor did not disclose its valuation or how much of the round represents new funding for the company rather than purchases of existing shares.
Luxor said the investment will support working capital for AI hardware, expansion of its cloud platform, compute derivatives trading and market making, and engineering and commercial hires.
The financing follows the September 24 launch of Luxor AI, which combines GPU procurement, energy services, computing capacity contracts and financial products. The business applies services developed for Bitcoin miners to operators and buyers of AI infrastructure.
Luxor’s trading operation connects owners of installed GPU capacity with enterprise customers. It also offers over-the-counter, cash-settled derivatives tied to compute rental indexes, allowing counterparties to take positions on computing prices without taking delivery of the underlying capacity. Its Tenki Cloud platform provides software development infrastructure, including tools for running AI agents.
The move into AI hardware began before the formal launch of that division. In December 2025, Luxor expanded procurement into GPUs, servers, storage and networking equipment, targeting Bitcoin miners developing AI and high-performance computing operations.
Two investors in the latest round already have commercial relationships with Luxor.
MicroBT, through investment manager Inflection Technology, signed a term sheet for a strategic investment in April, when Luxor also committed to purchasing $100 million of WhatsMiner equipment and expanded its LuxOS firmware to support the manufacturer’s machines. The latest announcement did not specify whether MicroBT’s participation fulfilled that earlier agreement.
Canaan announced a financing partnership with Luxor in September 2025 to help institutional customers purchase its mining equipment. That arrangement had already facilitated the sale of more than 5,000 Avalon A15 Pro machines to a US institutional miner, Canaan said at the time.
