BlackRock Makes $400M Investment in Crypto Miners

BlackRock, a large investment firm, currently holds a 0.35% stake of its total $117.6 billion worth in four cryptocurrency mining companies, according to data from Finbold and CNN.

Together, these companies have a combined capitalization of roughly $5.4 billion, despite experiencing significant losses in the last month.

Their individual shares, and the value of BlackRock’s stake, include: Riot Blockchain (RIOT) – 10.7 million shares (6.14%) for $199.08 million, Marathon Digital (MARA) – 10.9 million shares (6.44%) for $190 million, Cipher Mining (CIFR) – 2.2 million shares (0.88%) for $8.36 million, and TeraWulf (WULF) – 4.8 million shares (2.28%) for $14.10 million.

This makes them the largest invested member of the Bitcoin Mining Council, a United States-based industry lobbying group.

In June, BlackRock filed an application with the SEC to register a Bitcoin spot-fund. Following this, similar requests were made by Valkyrie, Fidelity Investments, WisdomTree, and Invesco, all of which were subsequently accepted by the SEC.