Fidelity Wants to Expand its Mining Business
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US asset manager Fidelity has posted a job offer seeking a mining engineer to expand its mining operations.

According to the job offer, which was posted on its website last month and on its LinkedIn profile last week, the firm wants to hire a mining engineer who will be responsible for helping design, building and maintaining the infrastructure required to run and expand its Bitcoin mining operations.

The asset manager started to mine Bitcoin and Ethereum back in 2014 for educational purposes. However, it looks like this activity has become a very profitable business for Fidelity.

As a result, in 2018 the company established Fidelity Digital Assets, a subsidiary specializing in digital assets that offers institutional clients crypto custody and trade execution services.

Therefore, what started as an educational project has become a really profitable business. For this reason, the company is constantly working on the development of its crypto-related products. For instance, in December iHodl reported Fidelity Digital Assets plans to add support for Ethereum this year. In addition, in November it was known Fidelity Digital Assets had received the regulator's approval to offer crypto custody and trading services in New York.

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