Core Scientific and Horizon Kinetics expand investment in next-gen crypto mining equipment

Core Scientific, a US-based blockchain hosting provider, announced today it has partnered with New York-based investment manager Horizon Kinetics to upgrade the cryptocurrency miners it hosts for Horizon Kinetics to the Antminer S19 and S19 Pro models manufactured by Bitmain.

Core Scientific has been a hosting partner for Horizon Kinetics’ cryptocurrency mining business for over a year. During that time, Horizon Kinetics has tripled the number of miners it hosts with Core Scientific. With their industry-leading speed and energy efficiency, the S19 and S19 Pro models from Bitmain enable bitcoin miners to stay competitive post the halving of the bitcoin block reward.

Hugh Ross, COO of Horizon Kinetics said: “Having performed due diligence reviews of more than a dozen hosted cryptocurrency mining facilities in the United States and Canada over the last three years, and now having worked with Core Scientific for more than a year, we have seen first-hand the difference working with a professionally managed organization can make in the success of your mining business. The sheer size of their operation coupled with their dedication to the client experience had already put in them in the top tier of U.S. domiciled hosting companies. And now, with the access they are able to offer their clients to a steady flow of the latest Malaysian-manufactured equipment from Bitmain, they have stepped up their game a notch and are definitely an industry leader.”

In addition to its partnership with Horizon Kinetics, Taras Kulyk, former President and COO of Alt 5 Sigma, has joined Core Scientific as its Senior Vice President of Blockchain Business Development.

Kevin Turner, CEO of Core Scientific said, “Taras joins Core Scientific at the perfect time, as we continue to rapidly expand our operations, strengthen relationships with existing institutional clients, and welcome new ones. With his impressive background and expertise in the digital asset industry, investment banking, and technology sectors, I am confident he will be a great addition to the team.”

Taras Kulyk, Senior VP of Blockchain Business Development for Core Scientific said, “We are excited to see more leading institutional investors like Horizon Kinetics expand their investment exposure to include digital assets, in particular cryptocurrency mining. Given the massive increase in attention the digital asset sector is experiencing, over the next few months I will be leading Core Scientific’s effort to onboard an increasing number of institutional players; in essence, providing a stable, North American-based mechanism for sophisticated investors to gain direct exposure to this rapidly maturing asset class.”