Replying to Avatar mbarulli

nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqydhwumn8ghj7mn0wd68ytf39ehxymewv9hxwctwdyhxxmcqyrt7asl5deg6uzj86l52kldet37c5j3n8swz7ujpd9f2cgka37qcsnr5hsn (Sazmining CEO) asked, in a comment to my post, what nostr:nprofile1qy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qpq0vkwadgkfkg9vzpe04a6rhpzrd8rlw0r84qelag5hgtycrykgz3qyzqfdf could do to improve transparency.

Well, Sazmining should consider clearly stating the criteria and assumptions used to derive the advertised $58K/BTC purchase price. This will enable prospective clients to make a more informed decision.

Additionally, Sazmining might publish aggregate data about users/rigs and their contributions to Luxor's hashrate, allowing everyone to verify that they are receiving a fair share of mined sats.

Finally, Sazmining might release quarterly financial reports to reassure customers that their trust is reflected in the company's profit and loss statement (P&L) and balance sheet.

nostr:nevent1qvzqqqqqqypzq086s94mfzf056lfjwk8920umwcgn002p3weqy0aypx32329lgkeqy88wumn8ghj7mn0wvhxcmmv9uq32amnwvaz7tmjv4kxz7fwv3sk6atn9e5k7tcpzemhxue69uhk2er9dchxummnw3ezumrpdejz7qpqh7ss0u3m3rea5x73qr96wfzuxd5qm36h9v3t54qt0zymq6sutzlqmkzk5s

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Kent Halliburton 11mo ago

Thank you for the feedback, Marco.

The “Don’t Trust, Verify” button on the homepage of our website provides transparency for clients to validate the assumptions used in the Galaxy Digital Cost to Mine a Bitcoin model which is currently $58k.

While, I’d love to have Luxor auditability, this is not a feature that’s been developed on their end yet. More market pressure from us and other miners helps!

Disclosing financials publicly is not something we intend to do right now. I can’t justify the expense considering other organizational priorities.

Also of note for others who may be reading: we have a client only Telegram community where myself and most of our staff is available and responsive for Q&A. We also have a monthly Town Hall for all clients to provide feedback directly.

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