Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Aquarius AI (AQUA) has entered into a managed service agreement with Luxor Technology Corporation
  • Luxor will manage AQUA’s mining hardware and carbon neutral power procurement, and provide data centre support services
  • Luxor will also provide AQUA with advisory services on equity, debt and equipment financing
  • Luxor provides investors with a full-service investment vehicle for cryptocurrency mining
  • Aquarius is a technology company focused on developing blockchain solutions to connect advertisers or businesses to consumers across digital channels
  • Aquarius AI Inc. (AQUA) opened trading at C$0.07 per share

Aquarius AI (AQUA) has entered into a managed service agreement with Luxor Technology Corporation.

Luxor, a US-based Bitcoin mining technology and services company, operates one of North America’s largest bitcoin and proof-of-work software including the Luxor mining pool. Luxor will manage AQUA’s application-specific integrated circuit (ASIC) mining hardware procurement, carbon-neutral power procurement, and data centre support services, and provide financing advisory services.

Under the terms of the agreement, Luxor will provide the following four core services to AQUA:

  1. Mining pool service: Luxor will provide AQUA with institutional-grade Mining Pool services for BTC, ETH, and other “Proof of Work” digital assets.
  2. Colocation sourcing and referral: Luxor will provide advisory/consulting services during the contract negotiation, due diligence, commissioning, and management phases.
  3. ASIC brokerage: Luxor will provide AQUA with ASIC brokerage and procurement services. These services include the coordination of logistics and delivery to final location.
  4. Financing: Luxor will provide AQUA with advisory services on equity, debt and equipment financing.

Luxor will manage all of Aquarius AI’s future Bitcoin mining operations. Entering into the agreement paves the way for the next stage of AQUA’s Bitcoin mining operations which will be announced in due course.

The service agreement is for a term of 36 months, and there will be no exchange of money or securities as part of the deal. Both parties will benefit from a revenue share from monies generated as a direct result of this deal.

Luxor is focused on integrating mining pools and enterprise-grade management software to provide investors with a full-service investment vehicle for cryptocurrency mining.

Owen Sagness, Director of Operations at AQUA commented on the opportunities with Luxor.

“We believe that bringing Luxor to the table is critical to allow the company to manage its future Bitcoin mining operations due to our anticipated scale and the feature set on offer.” He further added, “Luxor gives the company the ability to procure tens of Megawatts of carbon neutral power in short order, with the backup to support the ASIC mining hardware and pool management at our anticipated scale.”

Aquarius is a technology company focused on developing blockchain solutions to connect advertisers or businesses to consumers across online display, mobile and video advertising channels.

Aquarius AI Inc. (AQUA) opened trading at C$0.07 per share.

More From The Market Herald
The Market Herald Video

" LUXXFOLIO Holdings (CSE:LUXX) provides operational update

LUXXFOLIO Holdings’ (LUXX) November updates includes record mining revenues of approximately $1.8 million and monthly rewards of 23.5 Bitcoin.
HIVE Blockchain Technologies - Executive Chairman, Frank Holmes.

" HIVE Blockchain (TSXV:HIVE) releases record production figures for November 2021

HIVE’s (HIVE) cryptocurrency production for November 2021 continues its record-setting pace.
BIGG Digital Assets - CEO, Mark Binns.

" BIGG Digital Assets (CSE:BIGG) invests in TerraZero Technologies

BIGG Digital Assets (BIGG) has invested C$100,000 in TerraZero Technologies’ recent private financing round.
The Market Herald Video

" FSD Pharma (CSE:HUGE) demonstrates positive effects of Lucid-MS in treating MS in pre-clinical models

FSD Pharma (HUGE) is sharing pre-clinical data demonstrating the potentially disease-modifying effects of its lead drug candidate Lucid-MS.