Bitcoin

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BlackRock

BlackRock Inc., the world's largest asset manager, has reported a significant increase in its holdings of <a href="https://ultramining.com/news/en/terawulfs-game-changing-move-75m-investment-in-next-gen-bitcoin-miners/">TeraWulf</a> Inc. (NASDAQ: WULF), a company specializing in environmentally sustainable Bitcoin mining. On February 13, 2024, BlackRock filed a 13F-HR form with the <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/">SEC</a>, disclosing a 16.32% increase in its TeraWulf shares, now owning 11,033,835 shares valued at approximately $26,481,204 as of December 31, 2023. This latest move reflects a growing institutional interest in the cryptocurrency mining sector, particularly in companies that emphasize green energy use, according to <a href="https://fintel.io/so/us/wulf/blackrock">Fintel</a>. 
<figure class="wp-block-image">
 <img src="https://lh7-us.googleusercontent.com/H61Yp8XbbeK57ttAXp8CI5ulAsQ4du1Eb9e4j4cD1T6tPb4hvCIib9w1EeXu_CNwynmF5M7JmMI0f-4z9zzycp4HUP7Nl3rPdbpuOof06JgIOMnFvT9GDgF-48_xqJXGRKGkoO6rljJcil7fLaDuWlE" alt="">
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The reported value of BlackRock's investment in TeraWulf has risen to $27,143,234, marking a notable confidence boost in the crypto <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">mining industry</a> despite the volatile nature of cryptocurrency prices. The increase in share ownership is a clear indicator of BlackRock's strategic positioning within the digital asset space, aligning with the broader trend of institutional investment flowing into the cryptocurrency sector. 
TeraWulf's focus on leveraging clean energy for Bitcoin mining operations aligns with BlackRock's sustainability goals and could be a key factor in the asset manager's decision to increase its stake. The market's response to this significant investment will be closely monitored as it may influence other institutional investors' strategies towards environmentally conscious crypto <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/">mining companies</a>. 
This development comes at a time when the crypto mining industry is looking to address environmental concerns and improve its public image. BlackRock's investment may serve as a catalyst for further institutional adoption of cryptocurrency as a legitimate asset class, and TeraWulf's performance will likely be watched as a bellwether for green mining practices.

BlackRock Inc. Boosts Stake in TeraWulf Inc. Amidst Crypto Sector Growth

Ultramining_Eng

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