Vanguard Group, which manages $7.2 trillion in assets, has significantly ramped up its investments in the bitcoin mining sector, with its total stake now exceeding $560 million.
Vanguards bitcoin mining investments
The company has been snapping up shares of Marathon Digital and Riot Platforms, two major players in the Bitcoin mining space. Vanguard now holds 17.5 million shares of Marathon Digital, a 60% increase from its previous position. Given Marathon’s current share price of $16.03, this puts the value of Vanguard’s investment at a cool $280.5 million.
But Vanguard didn’t stop there. It also boosted its holdings in Riot Blockchain, a Colorado-based Bitcoin miner. Vanguard now owns 17.9 million shares of Riot, an 18% increase from its previous stake. This additional investment is worth over $281 million, pushing Vanguard’s total investment in Bitcoin mining firms to a whopping $560 million.
An institutional change of heart
This is all quite surprising given Vanguard’s stance just t
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