Breaking: Blackrock’s Investments In Bitcoin Mining Companies Revealed
While the crypto market is buoyant about the spot ETF filing by United States based investment management firm Blackrock, the firm is said to have a significant holdings in Bitcoin mining companies. In the past, it was reported that the likes of Fidelity and Vanguard too have purchased shares of BTC mining companies.
Also Read: Ripple Vs SEC: Key Executives Signal Trial Readiness for Q2 2024
Blackrock Investments In Bitcoin Mining Companies
The world’s largest asset manager, Blackrock, is said to be holding more half a billions dollars worth of shares in Bitcoin mining companies, which also includes publicly listed companies. Greenpeace USA, an affiliate of environmental nonprofit organization Greenpeace International, had earlier in August 2023 revealed findings from its research on Blackrock investments.
“Greenpeace USA research finds that BlackRock controls nearly $600 million worth of shares in Bitcoin mining companies and has shares in most of the large publicly traded miners. These investments are vital for mining companies to access funding for their energy-intensive facilities.”
In a latest, some popular crypto Twitter accounts too have reported the same:
Just in:
BlackRock has invested almost $400 million in Publicly Listed Bitcoin Mining Companies.
— Kashif Raza (@simplykashif) August 24, 2023
The company had in 2022 launched a private Bitcoin trust, which let institutional investors gain exposure to the top cryptocurrency. In a recent development, the company filed for a spot Bitcoin ETF application with the U.S. Securities and Exchange Commission (SEC). Any chance of its approval in the near future could be an irreversibly bullish sign for the crypto asset market considering the massive reach the asset manager has across industries.
Cost To Climate
Despite the economic prosperity Blackrock could bring to Bitcoin investors, Greenpeace argues that it could come at a “Sharp cost to the climate and the rest of society.” It explained in the August 14, 2023 report that the top cryptocurrency’s energy consumption and carbon emissions rise when the Bitcoin price and trading volume goes up.
Also Read: Will Bitcoin React To Jackson Hole Meeting, Jerome Powell Speech?
- VanEck Registers Lido Staked Ethereum Trust in Delaware, LDO Up 7%
- Fed’s Lorie Logan Urges Caution on Further Rate Cuts Citing Inflation Risks
- Nasdaq-Listed Fitell Adds Pump.fun’s PUMP To Supplement Solana Treasury
- FG Nexus to Tokenize Stock on Ethereum as SEC Weighs 24/7 Onchain Stock Trading
- Bitcoin Still Undervalued, JPMorgan Forecasts Rally to $165,000
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
