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Vanguard Group Buys 10% Stake In Bitcoin Miner Riot

The $7 trillion asset management giant Vanguard Group now owns a 10.24% stake in Riot Blockchain. A filing with the Securities and Exchange Commission (SEC) on Monday showed that Vanguard has upped its exposure to the firm from 15.2 million shares to 17.9 million. The company also bought millions of shares in competing firm Marathon Digital, increasing its holdings from 10.9 million shares to 17.5 million. Both Riot and Marathon are up roughly 400% year to date, mimicking the trajectory of other mining firms, and outperforming the already strong gains of Bitcoin (BTC) itself. Riot has invested tens of millions of dollars into expanding mining infrastructure capacity this year.

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