Bitcoin Up mining is in the spotlight – 3 of the world’s largest asset managers are investing in the blockchain industry.
These are more precisely Fidelity Investments, the Vanguard Group and Charles Schwab Corporation, which are betting on bitcoin mining
The 3 institutions bought shares in the companies Riot Blockchain and HIVE Blockchain Technologies . Riot Blockchain is an American company specializing in bitcoin mining and listed on the NASDAQ. As for HIVE , it is a Canadian crypto mining company, focused on Bitcoin and Ethereum.
Fidelity Investments is not at its first attempt in the crypto sector. The Fidelity Concord Street Trust fund had already bought 347,540 shares of Riot Blockchain for $ 1,455,982 . As for Hive Blockchain Technologies, the Fidelity Securities Fund has since 2017 invested more than $ 83 million .
This year, Fidelity made its first investment in the mining industry outside the United States. The Fidelity International fund therefore bought 10,451,094 shares in the Canadian bitcoin mining company Hut 8 (valued at $ 1.80 per unit).
Riot Blockchain has also benefited from investments from 2 Vanguard funds :
the Vanguard Index Fund and the Vanguard Valley Forge Index Fund. In all, 954,229 shares of the company were purchased for $ 2,118,000 .
Finally, CoinDesk reports to us that Charles Schwab Investment Management just bought 22,977 shares of Riot Blockchain for $ 52,000 . Although this is a small sum, it is a testament to the interest institutional asset managers have in the crypto industry.
These investments are good news for the crypto mining industry in the Americas. Riot Blockchain and HIVE Blockchain Technologies intend to deploy a very important hash power for the Bitcoin network. This will help to geographically decentralize mining.