JOLIETTE, QC, June 7, 2021 /PRNewswire/ - Canada Computational Unlimited Inc. doing business as CCU.ai ("CCU.ai"), a bitcoin mining center located in the Province of Québec, Canada is pleased to announce that it has entered into an agreement with Luxor Technology Corporation ("Luxor") to work together on hashrate liquidation. In this partnership, Luxor will utilize proprietary mining pool and switching algorithms to maximize the value of CCU.ai's mining operations.
"Luxor has rapidly proven their top-of-the line software approach for the blockchain industry and for mining bitcoins particularly. Using the Luxor pool for the past weeks has shown tremendous results and stability, we can't wait to scale more with them while at the same time securing the crypto-currency world with our renewable energy and efficient operation," said Romain Nouzareth, CCU.ai CEO and Co-Founder.
Since its inception, CCU.ai has pursued a vision of environmental stewardship and increased performance throughout the cryptocurrency mining process. The availability of energy from renewable sources in the province of Québec has made this endeavor feasible and a great base for future growth. To further growth CCU.ai has recently announced it entered into an agreement with Capricorn (TSXV: CAK.H).
"The CCU.ai team has built a phenomenal mining business, powered through renewable energy. We are excited to further support the move towards carbon-neutral sources of energy and this partnership attests to Luxor's ability to maximize the value of hashrate and provide a catered solution to institutional miners." stated Ethan Vera, Luxor COO.
CCU.ai was incorporated pursuant to the Business Corporations Act (Québec) on November 16, 2017. Since its creation, CCU.ai operates a high-density computation center built for high-grade cryptocurrency mining, AI data processing and fintech infrastructure located in the city of Joliette in the Province of Québec. In 2018, CCU.ai contracted with Hydro-Joliette to purchase up to 20 MW of hydro-electrical power to be used for crypto mining. 2.5 MW are currently used by CCU.ai to produce 32 PH/s of Bitcoin mining power (hashrate) and 6 GH/s of Ethereum mining power. CCU.ai has mined 421 Bitcoin since its creation. CCU.ai has built the capacity to use an additional 5 MW of power and is ready to host new mining rigs for cryptocurrency. The capacity to use the remaining 12.5 MW is set to be built in the coming months.
About Luxor Technology Corporation
Luxor is a fast-growing technology company that is shaping the future of hashrate as a commodity, building the next-generation digital pipelines for computer power. Luxor is backed by notable investors such as Argo Blockchain, Bitnomial, Celsius Network, Routemaster Capital, and more. Luxor also runs Hashrate Index, the leading crypto-mining data website.
SOURCE Canada Computational Unlimited Inc.