July 24, 2024
Blockchain News

Kinetics Upgrades Investment To Access Bitmain’s News Antminer

In a major announcement, United States-based crypto mining host Core Scientific said 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 announcement comes after Core Scientific announced a record purchase of 17,595 units of latest mining machines which comprises the largest sum of Antminer S19s purchased by a single mining hosting company ever. 

Kinetics has tripled the number of miners

It has been understood that since the first partnering more than a year ago, Core Scientific announced that Horizon Kinetics has tripled the number of miners its hosts with the firm.

The Horizon Kinetics’ COO Hugh Ross said 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.