Vanguard Group, which manages more than $7 trillion in assets, increased its stake in Marathon Digital by 60%, from 10.9 million to 17.5 million shares, and in Colorado-based Riot Blockchain by 18%, from 15.2 million to 17.9 million shares, according to reports filed with the SEC.
Cumulatively, Vanguard’s additional investments in mining stocks totaled more than $280 million, bringing its total investment to $560 million.
Several years ago, the group’s administration said that long-term investments in the cryptocurrency market’s mining sector were unpromising. However as of now, Vanguard Group has become Marathon Digital’s largest shareholder.
In its latest monthly report, mining company Marathon Digital told
investors that 979 bitcoins were mined in June 2023, a 599% increase from June 2022.