Asset manager Blackrock has made major investments in bitcoin mining companies Marathon Digital and Riot Blockchain.
The world's largest asset manager Blackrock has acquired shares in Bitcoin mining operations. The US $ 9 trillion company holds 6.71 percent of Marathon Digital Holdings and 6.61 percent of Riot Blockchain. The total investment is approximately $ 383 million.
Forbes reported on the investment on August 19th. The financial magazine relies on a mandatory SEC filing dated June 30th. Accordingly, Blackrock holds the shares in the two mining companies through funds with a broad focus: the iShares Russel 2000 ETF and iShares Expanded Tech-Software Sector. In the course of the Bitcoin bull run, the shares of Marathon Digital and Riot Blockchain rose sharply in value.
The investment is not the asset manager's first foray into the crypto world. Because Blackrock has been successfully trading Bitcoin futures since the beginning of the year. Meanwhile, CEO Larry Fink has given slightly contradicting assessments of the state of crypto over the past few months. While he was still talking about a potentially “ great asset class ” in April, he noted a few weeks ago that long-term investors had little interest in crypto.
Not only Blackrock is in the mining game
In addition to Blackrock, asset manager Fidelity also wants a piece of the mining pie. The company invested the US $ 20 million in a block of shares in Marathon Digital. The Vanguard Group has also invested in Marathon and Riot.
Against the background of the Chinese mining ban, such systems seem smart. Ultimately, it can be assumed that US providers such as Marathon and Riot will gain further market shares in the future. Both providers are currently aggressively upgrading the hash rate.
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