Arctos Capital funded $1.8 million in equipment leasing finance to Core Scientific, which will use the funds to purchase a new-generation Bitmain S19 Antminers. The financing also will provide more access to the mining environment that exists in North America.

“This partnership is an important step for the mining industry, as it will enable more players to access new-generation miners and expand the mining ecosystem,” Kevin Turner, CEO of Core Scientific, said. “We also see a lot of opportunities working alongside a company that is also looking to accelerate the mining industry in North America. I’m confident this will be a long term partnership,”

“Core Scientific has the proven ability to operate efficient facilities at scale for miners in North America,” Trevor Smyth, managing partner at Arctos Capital, said. “Our lease structures offer a straightforward and efficient way for miner’s to access capital, and we feel safe knowing that the equipment we are financing is in good hands at Core’s facilities. We look forward to growing the relationship and rapidly scaling in the coming months.”

This partnership follows other developments for Core Scientific, including its recent partnership with investment manager Horizon Kinetics, which expanded investment in next generation digital mining equipment, and Core Scientific’s recent purchase of approximately 18,000 digital mining machines from Bitmain.