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 <p>Asset management behemoth BlackRock has reportedly already invested in four of the five largest Bitcoin miners by market capitalization. Indeed, the traditional finance entity that shocked the industry by submitting an application for a spot-Bitcoin ETF is noted as the second-largest investor of the four Bitcoin miners.</p> 
 <p>Additionally, data from CompaniesMarketCap has shown that the five largest Bitcoin miners maintain a market cap of $5.4 billion. However, those companies have also noted significant losses over the last 30 days. Subsequently, BlackRock is seemingly buying the dips of some of the largest companies that the industry has to offer.&nbsp;</p> 
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   Source: WazirX
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 <p><strong>Also Read: BlackRock Bitcoin ETF Approval a Matter of “When Not If,” Says Insider</strong></p> 
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 <h2 class="wp-block-heading" id="h-blackrock-is-a-major-investor-in-four-of-the-five-largest-bitcoin-miners">BlackRock is A Major Investor in Four of the Five Largest Bitcoin Miners</h2> 
 <p>BlackRock stands out as one of the most successful asset management firms in the finance world. The largest asset manager in the world, the firm manages more than $8 trillion. Subsequently, it is now seeking to enter the digital asset industry.</p> 
 <p>Following its submission for spot Bitcoin ETF approval, BlackRock has invested in four of the five largest Bitcoin miners. Specifically, the firm is now the second-largest shareholder of those four entities, according to a report from Finbold.&nbsp;</p> 
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   <img decoding="async" width="1024" height="682" src="https://cdn.thebittimes.com/images/2023/08/29/0f2788a6ab268a4d881defbf4d353047.webp" alt="" class="wp-image-63907" srcset="https://cdn.thebittimes.com/images/2023/08/29/0f2788a6ab268a4d881defbf4d353047.webp 1024w, https://cdn.thebittimes.com/images/2023/08/29/0f2788a6ab268a4d881defbf4d353047.webp 300w, https://cdn.thebittimes.com/images/2023/08/29/0f2788a6ab268a4d881defbf4d353047.webp 768w, https://cdn.thebittimes.com/images/2023/08/29/0f2788a6ab268a4d881defbf4d353047.webp 380w, https://cdn.thebittimes.com/images/2023/08/29/0f2788a6ab268a4d881defbf4d353047.webp 550w, https://cdn.thebittimes.com/images/2023/08/29/0f2788a6ab268a4d881defbf4d353047.webp 800w, https://cdn.thebittimes.com/images/2023/08/29/0f2788a6ab268a4d881defbf4d353047.webp 1160w, https://cdn.thebittimes.com/images/2023/08/29/0f2788a6ab268a4d881defbf4d353047.webp 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: Financial News London
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 <p>The state of the Bitcoin mining industry as a whole is an important part of its development. Indeed, the asset manager is clearly buying on the dip, as the poor performance of these miners is notable. Subsequently, as mining difficulties and costs increased, the profitability of the practice continued to be put into question.</p> 
 <p><strong>Also Read: BlackRock Says Inflation is Still a Concern </strong></p> 
 <p>However, companies like BlackRock, with access to exorbitant funds, have an opportunity to aid these smaller miners. Specifically, the report noted that BlackRock has increased its position with Riot Platforms Inc., Marathon Digital Holdings, Cipher Mining Inc., and Terawulf Inc.</p> 
 <p>Consequently, the total value of the investment is around $411.54 million. Moreover, that amounts to a rather small 0.35% of the assets that the firm held as of 2022. Moreover, the report noted that the increased position now makes BlackRock Funds Advisors an important member of the Bitcoin Mining Council. A collective that is a noted lobbying group for Bitcoin mining in the United States.&nbsp;</p> 
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  <li>Blackrock</li>
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/blackrock-has-invested-in-four-of-the-five-largest-bitcoin-miners-tbt60701.html">https://thebittimes.com/blackrock-has-invested-in-four-of-the-five-largest-bitcoin-miners-tbt60701.html</a></p>

BlackRock Has Invested in Four of the Five Largest Bitcoin Miners

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