Fun

Fidelity Investments Purchases 7.4% Stake in Bitcoin Mining Firm Marathon

News Feed - 2021-08-06 12:08:10

Fidelity Investments Purchases 7.4% Stake in Bitcoin Mining Firm Marathon


Marathon Digital Holdings has published the company’s bitcoin production and mining operation updates for the month of July and bitcoin production increased 66% month-over-month. Furthermore, the financial services giant Fidelity Investments purchased a 7.4% stake in Marathon in July, spending around $20 million for the shares. Fidelity Investments Scoops Up Shares of Marathon for $20 Million


Boston-based Fidelity Investments is one of the largest asset managers in the world, handling $4.9 trillion in assets under management (AUM). Fidelity has been involved with cryptocurrencies and blockchain for years now and on July 22, Fidelity invested $20 million to purchase a 7.4% stake in Marathon Digital Holdings (Nasdaq:MARA).


Fidelity added the shares to four index-based funds including the Fidelity Series Total Market Index Fund (FCFMX), Fidelity Extended Market Index Fund (FSMAX), Fidelity Total Market Index Fund (FSKAX), and the Fidelity Nasdaq Composite Index Fund (FNCFX). Fidelity’s choice to spread the crypto investment vehicles across the index-based funds with a $170 billion valuation is part of a growing trend of asset managers handling digital currency products. Fidelity Joins Marathon Investors Like Vanguard, Blackrock, Susquehanna


Marathon also revealed this week that it had signed an agreement to purchase 30,000 Antminer bitcoin mining rigs from Bitmain. Following the announcement, Marathon published statistics for its July performance. The company noted that it had seen a significant month-over-month increase in bitcoin production to 422.2 BTC worth over $16 million. The company’s audit explains that the firm’s BTC holdings today is approximately 6,225.6 BTC worth $236 million at the time of writing.


In addition to Fidelity, a number of other large financial institutions have purchased Marathon shares. As of today, Blackrock holds 1.59% of Marathon, Susquehanna has a 2.7% stake in the mining company, and Vanguard Group holds around 7.58% of MARA shares. Marathon’s July audit also says the company received approximately 19,401 S19 Pro ASIC miners from Bitmain during the last year. To date, Marathon’s fleet is approximately 19,395 active miners which produce around 2 exahash per second (EH/s) of hashrate.


What do you think about Fidelity Investments purchasing a 7.4% stake in the bitcoin mining firm Marathon? Let us know what you think about this subject in the comments section below. Slew of Venture Funds, Eminem, Paul Rosenberg Inject $30 Million Into NFT Platform Makersplace FINANCE | 20 hours ago HSBC Becomes Latest Bank to Suspend Payments to Crypto Exchange Binance in UK FINANCE | 2 days ago Tags in this story Bitcoin mining, fidelity, Fidelity Digital Assets, Fidelity Investments, Marathon, Marathon Bitcoin Mining, mining


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Former British Chancellor’s crypto firm Copper launches tokenized securities platform
Ana Paula Pereira4 hours agoFormer British Chancellor’s crypto firm Copper launches tokenized securities platformCopper plans to use its arm in the United Arab Emirates, Copper Securities, to capitalize on the demand o
Bitcoin, Ethereum Technical Analysis: Bitcoin Rebounds, as Russia Looks to Regulate Crypto
Bitcoin, Ethereum Technical Analysis: Bitcoin Rebounds, as Russia Looks to Regulate Crypto Following price consolidation on Tuesday, bitcoin prices rebounded on hump-day, as market
LBank Exchange Will List THN (Throne) on September 22, 2021
LBank Exchange Will List THN (Throne) on September 22, 2021 press release PRESS RELEASE. INTERNET CITY, DUBAI – LBank Exchange, a global digital asset trading platform, is pr
Bitcoin of America Is Working to Solve the Gender Problem in the Crypto Industry
Bitcoin of America Is Working to Solve the Gender Problem in the Crypto Industry sponsored The leading virtual currency exchange, Bitcoin of America, announced its return to BTC 202
Ethereum Make-Or-Break Moment: This Key Level Determines Path To Reach $7,000
Este artículo también está disponible en español. Despite Ethereum (ETH) recently losing the critical $3,000 threshold due to broader cryptocurrency market corrections in
Bitcoin Mining Equipment Maker Ebang Files $100 Million IPO for US Stock Market Listing
Bitcoin Mining Equipment Maker Ebang Files $100 Million IPO for US Stock Market Listing Bitcoin mining chip maker Ebang International Holdings Inc. is seeking to raise up to $100 mi
Bitcoin in INR: Binance, Wazirx, Cashaa, Zebpay Announce New Offers for India
Bitcoin in INR: Binance, Wazirx, Cashaa, Zebpay Announce New Offers for India Several cryptocurrency exchanges in India have recently stepped up their offerings as they wait for
Bitcoin RSI points to more BTC price upside as a $65K battle rages
William Suberg9 hours agoBitcoin RSI points to more BTC price upside as a $65K battle ragesBTC price gains cool as a struggle for the Bitcoin short-term holder realized price unfolds, but analysis demands continuation.34
Meta, Microsoft, and Others Launch Metaverse Standards Group
Meta, Microsoft, and Others Launch Metaverse Standards Group Meta, Microsoft, and 31 more companies have united to form an organization to promote the creation of open standards re
Derek Andersen2 hours agoAbu Dhabi Global Market introduces comprehensive DLT Foundations RegulationsThe ADGM’s new regulatory framework is the first of its kind in the world, it says. The free financial zone is alread
Cointelegraph10 hours agoZero Barriers ahead! Zero knowledge and AI combine to redefine the futureThe fourth episode sees StarkWare president Eli Ben-Sasson and Giza co-founder Cem Dagdelen explore the role of AI in smar
Nigerian prison doctor detained over Binance executive’s health concerns
Amaka Nwaokocha54 minutes agoNigerian prison doctor detained over Binance executive’s health concernsGambaryan’s family has expressed concern about his well-being and appealed to the EFCC to release him and pursue it