Luxor: The new Bitcoin computing power product is not a scam and will not repeat the failure experience of BlockFi or Celsius

Bitcoin mining service company Luxor says its upcoming product powered by Bitcoin computing power should not be compared to the failed products of BlockFi or Celsius because the rewards for Luxor products come from proof of work (PoW), not "Ponzi" scam". Luxor's product works by investors providing Bitcoin as collateral to Luxor to receive a portion of the loan repayments, which Luxor then lends to other miners to fund their operations; when computing power is purchased from Bitcoin miners at a discount and Returns accrue when hash power is “locked in” when sold at a higher price. Bitcoins in the form of mining rewards come from this computing power. Luxor expects investor returns to be between 10% and 13%. The process will be managed through Luxor’s upcoming hash rate marketplace. (Cointelegraph)