{"id":21501,"date":"2024-05-29T10:00:44","date_gmt":"2024-05-29T07:00:44","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21501"},"modified":"2024-05-29T11:23:13","modified_gmt":"2024-05-29T08:23:13","slug":"luxor-and-bitnomial-introduce-bitcoin-mining-derivative-product-on-bitnomial-exchange","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/luxor-and-bitnomial-introduce-bitcoin-mining-derivative-product-on-bitnomial-exchange\/","title":{"rendered":"Luxor and Bitnomial Introduce Bitcoin Mining Derivative Product on Bitnomial Exchange"},"content":{"rendered":"<p>On the Bitnomial United States derivatives exchange<strong>, Luxor Technology Corporation and Bitnomial Inc.<\/strong> have introduced a Bitcoin mining derivative product.<\/p>\n<p>On May 28, Bitnomial announced the release of a derivative futures contract for trading Bitcoin blockchain processing power: Hashrate Futures.<\/p>\n<h1><strong>Introduction of Hashrate Futures<\/strong><\/h1>\n<p><strong>Bitnomial<\/strong> said the product under the ticker HUP provides a means for investors to have exposure to the Bitcoin mining hash rate and miners to hedge their income.<\/p>\n<p>A futures contract is a financial derivative whereby two parties agree to purchase and sell a financial asset for an agreed-upon price at a future date.<\/p>\n<p>Priced based on <em>&#8220;hashprice,&#8221;<\/em> Luxor&#8217;s assessment of <strong>Bitcoin mining<\/strong> revenue potential, this commodity exchanges hash rate and the computational power of Bitcoin.<\/p>\n<p>Monthly durations of hashrate futures contracts have a 1 petahash (PH) size; the reference rate for settlement is Luxor&#8217;s Bitcoin Hashprice Index.<\/p>\n<p>Luxor also offers over-the-counter goods with non-deliverable hashrates that settle on an exchange under the control of the Commodity Futures Trading Commission.<\/p>\n<p>According to<strong> Bitnomial founder and CEO Luke Hoersten<\/strong>, <em>&#8220;enabling Hashrate to Bitcoin Futures is fungible&#8221;<\/em> with the firm&#8217;s actual Bitcoin Futures.<\/p>\n<p><em>&#8220;These spreads let people take returns in either USD or BTC, or isolate hash rate risk from Bitcoin price risk,&#8221;<\/em> he said.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/us-bitcoin-miners-spend-2-7-billion-on-power-in-early-2024\/\"><em><span style=\"font-weight: 400;\">This Might Interest You: <\/span><span style=\"color: #333333; font-size: 14.4px;\">US Bitcoin Miners Spend $2.7 Billion on Power in Early 2024<\/span><\/em><\/a><\/p>\n<p>Luxor invented the phrase <em>&#8220;hashprice,&#8221;<\/em> which describes the anticipated value of one TH of daily hashable capacity. It estimates a miner&#8217;s expected pay from a given hash rate level.<\/p>\n<p>HashRateIndex reports that the hash price right now is $0.053 per terahash per second per day.<\/p>\n<p>It peaked during the halving event on April 20 at $0.140, then plummeted following the block reward cut-off.<\/p>\n<p>Since the start of 2024, the hash price has been down 46%, which makes it considerably more difficult for miners to earn from their proof-of-work operations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the Bitnomial United States derivatives exchange, Luxor Technology Corporation and Bitnomial Inc. have introduced a Bitcoin mining derivative product. On May 28, Bitnomial announced the release of a derivative futures contract for trading Bitcoin blockchain processing power: Hashrate Futures. Introduction of Hashrate Futures Bitnomial said the product under the ticker HUP provides a means<\/p>\n","protected":false},"author":6,"featured_media":21503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[307,6452,6451],"class_list":["post-21501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-bitcoin-mining","tag-bitnomial-inc","tag-luxor-technology-corporation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Luxor and Bitnomial Introduce Bitcoin Mining Derivative Product on Bitnomial Exchange<\/title>\n<meta name=\"description\" content=\"Luxor Technology and Bitnomial Inc. launch Bitcoin mining derivative &quot;Hashrate Futures&quot; on Bitnomial Exchange, providing miners and investors with new hedging opportunities.\" 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