Luxor launches derivatives product based on bitcoin mining rev | .

Luxor launches derivatives product based on bitcoin mining revenue

Bitcoin mining firm Luxor, which runs a mining pool and a hardware trading desk, is launching an over-the-counter derivative product based on bitcoin mining revenues. The new product, Luxor Hashprice NDF, is a non-deliverable forward contract for Bitcoin mining "hashprice".

Luxor will settle payments using its bitcoin hashprice index as the reference rate for hashrate value. Contracts can pay out in either dollars, BTC or a USD stablecoin. Their durations will be flexible and bespoke according to counterparty needs. Contract terms will be structured according to a locked-in price, daily hashrate being sold and the duration of the contract. The company said this is just the first of "many derivatives".

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