Explosive Growth in Luxor’s RFQ Platform Trades in June 2023

In June 2023, Luxor’s Request for Quote (RFQ) platform reported a staggering 186% increase in trading volume. The platform recorded trades of 6,877 units and settled 751 PH of hardware in this period. These miners got distributed worldwide, with the majority going to the United States, according to hashrateindex.

The S19j Pro+ models attracted significant demand in June, despite the previous month’s uncertainty. Early performance reports indicate that these models are indeed a solid choice. Used machines, particularly the S19j Pros, M30S, and M30S++, have seen a notable uptick in volume. This trend suggests a growing interest in cost-effective alternatives.

Whatsminer’s M50 series machines have also become popular among buyers. The drop in their premium led to a capital allocation shift towards these machines. Bitmain still dominates the market, with 5,121 units traded on Luxor’s RFQ. This volume represents 63% of the total platform volume.

The data also revealed high internal trades within the United States. Over 3000 units changed hands within the country. This trading flurry comes from inventory liquidations and miners upgrading to more efficient machines. With Bitmain phasing out its S19j Pro and S19j Pro+ models, a new era begins with the latest S19j XP model.

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