Multinational investment management entity BlackRock has reportedly invested nearly $400 million in two top-tier publicly-traded Bitcoin (BTC) mining companies, per details in its submitted filings. 

Specifically, a June 30 filing received by the US SEC reportedly indicated that BlackRock currently has possession over 6.71% and a 6.61% stake in Marathon Digital Holdings and Riot Blockchain, respectively. 

Overall, the value of the investments is reportedly equivalent to approximately $384 million, with BlackRock finalizing the acquisition of around$207 million in Marathon stock and $176 million worth of Riot stock.

Per ETF.com, BlackRock’s iShares Russell 2000 ETF currently has possession over more shares in Marathon and Riot compared to any other exchange-traded fund, while iShares Russell 2000 Value ETF secures the 3rd spot with the same figure. 

BlackRock has reportedly completed investments across the crypto sector previously, with the company submitted the application with the SEC in January for two of its funds, dedicated to buying cash-settled Bitcoin futures contracts, prior to the April disclosure of acquisition of over 37 BTC contracts made by the BlackRock Global Allocation Fund, from the Chicago Mercantile Exchange.

With the range of product services equipping institutional investors with regulated exposure to the US-based markets, Bitcoin mining stocks have been gathering an inclining level of interest throughout the past years. 

While BTC has experienced a growth surge of 288% during the last 12 months, Marathon’s stock has witnessed a 754% climb, and the figure is 848% for Riot.