BlackRock Is 2nd Largest Shareholder in 4 Biggest Bitcoin Mining Firms

Blackrock-$Blk-Has-Lost-$1.7T-of-Its-Clients’-Assets
2 mins read News
  1. BlackRock is a considerable shareholder in four out of five biggest US Bitcoin mining firms.
  2. The global investment firm is also a shareholder in Michael Saylor’s MicroStrategy.
  3. BlackRock is aiming to offer a spot BTC ETF soon pending approval by the SEC.

Global investment firm BlackRock may be into the Bitcoin rabbit hole more than it cares to admit. In fact, not only does BlackRock want to provide spot BTC exchange-traded funds (ETF) soon, but it may actually be involved more in Bitcoin mining.

Read CRYPTONEWSLAND on Google News google news

According to a post by Bitcoin News, BlackRock is the second-largest shareholder in four out of five biggest Bitcoin mining firms in the US. Namely, these are Riot Blockchain, Marathon, Cipher Mining, and TeraWulf.

The data provided by Bitcoin News was confirmed on CNN Business’ database. In addition, BlackRock has been aggressively increasing its investment in these companies lately. For instance, with Cipher Mining, BlackRock has a total of 2.2 million shares and has increased its position by 18.63%.

However, the lion’s share of stocks purchased for the above-mentioned Bitcoin mining firms goes to The Vanguard Group, another US-based investment giant.

To set the record straight, BlackRock is not the majority shareholder in these BTC mining firms.

BlackRock was once mum about cryptocurrency at best, and critical at worst. The winds have shifted, particularly this year, when the global investment juggernaut announced its interest in offering a spot BTC ETF.

What is more, BlackRock is also a shareholder in MicroStrategy, which holds a lot of bitcoins. Specifically, BlackRock has a 15.24% stake in MicroStrategy.

Read Also :

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

related posts