Luxor finances 5,000 Avalon miners in U.S. deal

Luxor partnered with Canaan to launch a miner financing program. A U.S. institutional miner acquired 5,000 Avalon A15 Pro rigs.

Luxor and Canaan launch miner financing program

Luxor announced a new partnership with Beijing-based manufacturer Canaan to provide financing for bitcoin mining equipment. The first deal, finalized in August, enabled an unnamed U.S. institutional miner to acquire more than 5,000 Avalon A15 Pro rigs.

The program offers competitive rates, lower collateral requirements, and non-dilutive funding. Luxor COO Ethan Vera said the capital will be sourced from the company’s lending partners.

Market shifts and inventory pressure

The collaboration arrives as the hardware race cools among major North American bitcoin mining firms, leaving manufacturers like Canaan to address excess inventory.

The Avalon A15 Pro is Canaan’s latest generation rig, designed for efficiency and uptime. During the first half of 2025, Canaan sold around 12 EH/s of hashrate and increased its proprietary capacity to more than 8 EH/s.

Institutional adoption amid mining challenges

Canaan hopes the financing option will accelerate institutional adoption of its equipment and support sales despite industry headwinds.

With bitcoin slipping below $110,000, network difficulty at record highs, and low transaction fees, hashprice has fallen to $53/PH/s. While profitability is under pressure, financing programs like Luxor’s could ease capital burdens for large-scale miners.