SALT Lending & Luxor Introduce Innovative Treasury Management Solution for Bitcoin Miners
DENVER, July 25, 2023 /PRNewswire/ -- SALT Lending, a premier provider of cryptocurrency-backed loans, announces the launch of its revolutionary Treasury Management Solution. Designed to provide a safe and effective way for businesses to allocate assets for operational expenses while preserving their Bitcoin, this solution marks another innovative stride in the crypto industry.
SALT's Treasury Management Solution presents a new avenue for businesses, including mining operations, to securely streamline their treasury management. With this tool, entities can safely hold their Bitcoin in institutional-grade storage while maintaining their operational expenses. This new approach enhances SALT's core service: facilitating loans backed by crypto assets.
A unique aspect of this innovative solution is SALT's new partnership with Luxor Mining Pool, enabling clients to reduce pool fees and allowing them to stack Sats in their SALT Bitcoin wallet. This approach helps to maintain more Bitcoin in a business's treasury while diversifying its hashrate.
SALT's Treasury Management Solution offers the advantage of autopilot loan setup with no hidden fees. This feature enables businesses to leverage their treasury to cover operational expenses and fund growth stages efficiently, mitigating key risks associated with borrowing such as loss of liquidity and tax consequences.
The solution addresses the downside risk of borrowing through SALT's novel Stabilization feature, preserving the upside liquidity provided by Bitcoin holdings. Once the Loan-to-Value (LTV) is restored to a safe zone, entities can strategically re-enter the market, thus increasing their potential to stack more Sats.
"With SALT's Treasury Management Solution, businesses no longer have to worry about selling their crypto to fund operations or make strategic investments. They can borrow from their own resources, optimizing financial operations and paving the way for potential growth," said Shawn Owen SALT's CEO.
About SALT Lending
Founded in 2016 and headquartered in Denver, SALT Lending is the pioneer of crypto-backed lending. SALT's mission is to build and enable simple, familiar, and novel crypto financial products that increase access to financial opportunities and give consumers more control over their ability to generate long-term wealth.
SALT's crypto lending products enable its users to seamlessly access credit against their crypto portfolios - while the Company's B2B Embedded Crypto Lending Service enables third-party platforms to offer these products to their users. For more information, visit www.saltlending.com or follow us on Twitter, Facebook and Medium.
The California Department of Financial Protection and Innovation (DFPI) suspended Salt Lending LLC's lending license on November 18, 2022, in response to the company's pause of platform operations. The company further entered into an agreement with the DFPI to stop collections and new originations in California while the license remains suspended. For more information, go to https://saltlending.com/california-dfpi-notice/.
Forward Looking Statements - Important Please Read
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding consummation of the proposed acquisition, and expected benefits of the acquisition. Actual results could differ materially from those projected or forecast in the forward-looking statements. Factors that could cause actual results to differ materially include the following: the company may not realize the anticipated benefits from the restructuring; the company may not be able to obtain the regulatory approvals and clearances necessary to resume business operations, the company may be subject to further regulatory inquiries and requirements in order to operation, additional capital and funding will be required to further pursue the company's business plan; the duration and scope of the COVID-19 pandemic, including any recurrence, may affect our results of operations; operating costs, customer loss, and business disruption (including, without limitation, difficulties in maintaining relationships with employees, partners, and commercial counterparties) may be greater than expected, and continuity volatility and uncertainty in cryptocurrency markets may negatively impact the company and its results of operations. In addition to the foregoing, other factors that could affect actual results are discussed in "Risk Factors" in SALT's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and in SALT's other filings with the SEC, which are available at http://www.sec.gov. The parties assume no obligation to update the information in this press release, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.
About Luxor
Luxor Technology Corporation is a Bitcoin mining software and services company that offers a suite of products for the mining and compute power industry. Luxor operates an ASIC trading Platform, Bitcoin mining ASIC firmware, a Bitcoin mining pool, a hashrate derivatives desk, and a Bitcoin mining data platform (Hashrate Index). If you are interested in learning more about LuxOS, please visit Luxor's firmware website, and if you want to talk to the Luxor team about any of our product lines, please email [email protected].
SOURCE SALT Lending
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