Vanguard's investments in Bitcoin mining firms Marathon, Riot approach $620M (2024)

FAQs

Vanguard's investments in Bitcoin mining firms Marathon, Riot approach $620M? ›

Reports from Fintel suggest that Vanguard now owns 10.31% of Marathon and 10.24% of Riot through its investments. Vanguard's latest Marathon investment also represents a nearly 60% increase from February, when it held 10.97 million shares and 9.39% of the mining company.

Vanguard owns the most shares of Riot Platforms (RIOT).

Riot has North America's largest Bitcoin mining facility in Texas with a total power capacity of 700 megawatts. The Castle Rock, Colorado-based company is building another site in the state with as much as one gigawatt of capacity. That amount of energy is enough to power 200,000 Texas homes.

Asset manager Vanguard now owns $560 million worth of bitcoin mining stocks, which includes exposure to companies like Riot Blockchain and Marathon Digital.

A big reason investors have been feeling bearish about Riot, however, is that its latest earnings numbers weren't that great. The company released earnings in February and revenue for 2023 grew by 8% to $280.7 million but the company still incurred a net loss of $49.5 million.

Riot Blockchain Inc. Wall Street analysts forecast RIOT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RIOT is 18.27 USD with a low forecast of 11.11 USD and a high forecast of 24.15 USD.

Riot Platforms has 78.48% upside potential, based on the analysts' average price target. Riot Platforms has a consensus rating of Strong Buy which is based on 8 buy ratings, 0 hold ratings and 0 sell ratings.

Does Bitcoin Mining Actually Pay? Bitcoin mining can be profitable if you contribute enough hashing power to a mining pool to receive larger rewards. If you're solo mining at home on your computer, you may never receive rewards.

Although the federal government has not imposed a nationwide ban on cryptocurrency mining, certain provinces have taken steps to regulate the industry due to concerns about electricity consumption and environmental impact.

Vanguard is owned by its member funds, which in turn are owned by fund shareholders. With no outside owners to satisfy, this structure ensures business and portfolio management decision focuses squarely on meeting the investment needs of our investors.

Who is the biggest investor in Bitcoin? ›

The largest holders of Bitcoin include Satoshi Nakamoto, public companies like MicroStrategy and Tesla, institutional investment trusts such as Grayscale, individuals known as “Bitcoin whales,” and even some governments through legal seizures and strategic purchases like the United States and El Salvador.

Jackson: In Vanguard's view, crypto is more of a speculation than an investment. This is at the root of our decision to not offer crypto products, whether our own or others. With equities, you own a share of a company that produces goods or services, and many also pay dividends.

The financial health and growth prospects of RIOT, demonstrate its potential to underperform the market. It currently has a Growth Score of B. Recent price changes and earnings estimate revisions indicate this stock lacks momentum and would be a lackluster choice for momentum investors.

Riot Blockchain Stock Forecast

The 10 analysts with 12-month price forecasts for Riot Blockchain stock have an average target of 17.31, with a low estimate of 12 and a high estimate of 23. The average target predicts an increase of 43.89% from the current stock price of 12.03.

Riot Platforms stock has received a consensus rating of buy. The average rating score is and is based on 46 buy ratings, 3 hold ratings, and 1 sell ratings.

Riot Vanguard is Riot Games' custom game security software, designed to uphold the highest levels of competitive integrity for our offerings. It consists of a client that runs while League of Legends is active and a kernel mode driver.

Vanguard, Riot's anti-cheat software, is only added to your computer when you install one of our games that requires it—like VALORANT or League of Legends. As such, it is not part of the default Riot Client.

Currently, the two largest shareholders of Riot are asset managers Vanguard and BlackRock who control 9.68% (valued at $196 million) and 6.5% (valued at $131.58 million) of outstanding shares respectively.