BlackRock owns shares in four crypto mining companies valued at a total of $411 million, Finbold has reported.
The five largest cryptocurrency miners reportedly have a combined capitalization of around $5.4 billion, but have posted large losses over the past month.
As of July 30, BlackRock bought securities of the top digital asset mining companies during the fall. In particular, the firm purchased securities of Riot Blockchain, Marathon Digital, Cipher Mining and TeraWulf.
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The private equity firm's total investment represents a 0.35% stake of the $117.6 billion it owns.
In addition, BlackRock's current position makes it one of the most heavily invested members of the Bitcoin Mining Council, a lobbying group for the Bitcoin sector in the US.
The firm filed an application with the SEC on June 15 to register a spot Bitcoin fund. Valkyrie, Fidelity Investments, WisdomTree and Invesco filed their own applications shortly thereafter.