BitMine Immersion Technologies, Inc. announced that it has entered into a mining computer lease agreement with Luxor Technology Corporation, one of the top Bitcoin service providers and ASIC brokers in the US. In what is believed to be the first of its kind transaction by a public bitcoin miner, BitMine is leasing almost 800 Antminer S-19's from Luxor in a short-term lease, which expires at the Bitcoin halving next month, expected on or about April 19th. In exchange for a lump sum lease payment and an agreement to pay 70% of the machine production through regular invoicing, BitMine will receive all the mining proceeds to its wallet for the duration of the lease period.

Both Luxor and BitMine hope to renew this lease and/or other leases once this expands. Given the short-term nature of the lease, BitMine views this transaction as a strategic way to add substantial mining revenue moving forward, without the need to come up with large capex that would be required for bulk machine purchases.