United States-based crypto mining host Core Scientific has announced that the $5.3 billion asset manager and hedge fund Horizon Kinetics has upgraded its investment to access Bitmain’s news Antminer S19 and S19 Pro models.
The July 2 announcement comes less than two weeks after Core Scientific announced a record purchase of 17,595 units of latest mining machines — comprising the largest sum of Antminer S19s purchased by a single mining hosting company.so far.
Since first partnering last more than one year ago, Core Scientific reports that Horizon Kinetics has tripled the number of miners its hosts with the firm.
Hugh Ross, Horizon Kinetics’ COO indicated that the hedge fund’s decision to partner with Core Scientific came following several years of probing North America ASIC hosting providers.
On Horizon’s decision to expand its partnership, Ross emphasized the advantage of being able to access “a steady flow of the latest Malaysian-manufactured equipment from Bitmain.”
The recently purchased miners will be deployed across 665,000 square feet of data centers operated by Core Scientific in the United States over the next four months. Core Scientific currently has 450 megawatts of power under contract to fuel its ASIC, GPU, and FPGA mining facilities.
Alongside Horizon Kinetics’ expansion, Core Scientific announced that it had onboarded Taras Kulyk, the former president of blockchain technology firm Alt 5 Sigma, as its new senior vice president of blockchain business development.
Kulyk will be tasked with “leading Core Scientific’s effort to onboard an increasing number of institutional players,” with the former Alt 5 executive emphasizing his excitement “to see more leading institutional investors like Horizon Kinetics expand their investment exposure to include digital assets.”