Fidelity Takes 7.4% Stake in Marathon Digital

Mutual fund giant Fidelity Investments has acquired a 7.4% stake in crypto miner Marathon Digital Holdings for about $20 million, according to a Forbes report.

The investment was made on July 22 and was spread across four index-based funds, including Fidelity Extended Market Index Fund (FSMAX), Fidelity Nasdaq Composite Index Fund (FNCFX), Fidelity Total Market Index Fund (FSKAX) and Fidelity Series Total Market Index Fund (FCFMX).
Fidelity is one of the largest financial services companies in the world, with almost $5 trillion in assets under management and more than 35 million clients.
The investment reflects the growing institutional and individual interest in investing in crypto-related companies. Several other large institutional firms have large stakes in Marathon, including Vanguard (7.58%), Susquehanna (2.7%) and BlackRock (1.59%), according to Forbes.
Shares of Marathon were up more than 4% on Thursday, potentially on the Fidelity news. Shares of Marathon are up well over 600% over the past year.
Marathon said this week it increased its generation of bitcoin by 66% in July.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Nelson Wang

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.