American mining company Core Scientific announced a partnership with Foundry, which will provide financing for the firm and its clients totaling $23 million.
According to the press release, as part of the collaboration the DCG subsidiary will allocate Core Scientific $12 million to purchase mining equipment. Its clients will receive $11 million for these purposes from Foundry.
Core Scientific noted that the financing will allow continued expansion of cryptocurrency mining capacity in North American regions.
Foundry’s investment is to be one of the largest deals in the industry this year, the statement said. DCG agreed to invest in its subsidiary company $100 million by 2021.
In June, Core Scientific signed an agreement with Bitmain to buy 17,595 Antminer S19 units, which are deployed in data centers across the United States. This is the largest batch of devices purchased by a single company.
In September, Bitmain selected Core Scientific as the sole joint service center in North America.
Earlier, the Chinese miner manufacturer expanded its partnership with Foundry to attract capital into the region’s mining industry.
Subscribe to Forklog’s channel on YouTube!