Luxor Technology raised $16 million in a strategic funding round led by CMT Digital, with participation from Canaan, MicroBT, Halo, Steelhead and angel investors.

Two separate outlets published matching stated allocation plans for the funds. Luxor will direct capital to scaling its cloud platform, AI hardware working capital, compute derivatives desk expansion, and engineering and go-to-market hiring.

As of September this year, the firm reported its hardware desk has traded $1 billion of mining ASICs. Its energy arm services over 75 megawatts of load, and its cloud platform processed 1.8 million workloads.