Fidelity Investments, one of the world's largest asset managers with $4.9 trillion in assets under management, purchased a 7.4% stake in bitcoin mining firm Marathon Digital Holdings (NASDAQ: MARA) for approximately $20 million in July. The move underscores the growing appetite of traditional financial giants for direct exposure to the cryptocurrency mining sector.
Fidelity Spreads Stake Across Four Index Funds
On July 22, Fidelity added Marathon shares to four index-based funds: the Fidelity Series Total Market Index Fund (FCFMX), the Fidelity Extended Market Index Fund (FSMAX), the Fidelity Total Market Index Fund (FSKAX), and the Fidelity Nasdaq Composite Index Fund (FNCFX). By channeling the crypto-related investment through these vehicles—with a combined valuation of $170 billion—Fidelity is following a trend seen across major asset managers that are increasingly incorporating digital asset proxies into traditional index portfolios.
Marathon's July Output Rises 66% Month-Over-Month; Bitcoin Treasury Now Exceeds 6,225 BTC
Marathon released its unaudited production and mining operations update for July on Wednesday. The company produced 422.2 bitcoin during the month, worth over $16 million at current prices, representing a 66% increase from June. As of July 31, Marathon held approximately 6,225.6 BTC, valued at roughly $236 million. The company also announced a new agreement with Bitmain to purchase 30,000 Antminer S19 Pro series miners, which are expected to be delivered over the coming months. This deal will significantly boost Marathon's total hash rate from its current level of about 2 exahashes per second (EH/s).
Other Institutional Investors Include Vanguard, BlackRock, and Susquehanna
Marathon's shareholder roster also features several other heavyweight institutions. As of July, Vanguard Group holds about 7.58% of MARA shares, Susquehanna International Group owns 2.7%, and BlackRock has a 1.59% stake. The diverse and deep institutional interest signals that bitcoin mining has become a legitimate asset class for major allocators seeking indirect exposure to the digital currency ecosystem.