BlackRock Secretly Controls Bitcoin Mining Company Shares Worth IDR 9.1 Trillion

BlackRock controls the shares of the Bitcoin mining company. (Photo; Doc. BlockTempo)

JAKARTA - BlackRock, one of the largest investment management companies in the world, is reported to own a stake worth more than half a billion US dollars in Bitcoin mining companies. This finding was revealed by Greenpeace USA, an affiliate of Greenpeace International's nonprofit organization, in their research in August 2023.

The results of Greenpeace USA's research highlight the fact that BlackRock has control over nearly 600 million shares in Bitcoin mining companies.

This investment is not only significant in terms of value, but also in environmental impact. Most Bitcoin mining companies rely on large amounts of energy, and this investment helps provide funds for their energy-intensive operations.

Not only that, BlackRock also launched a personal Bitcoin trust in 2022, allowing institutional investors to gain exposure to the most famous cryptocurrency.

Recently, the company submitted an application for the Bitcoin spot ETF to the United States Securities and Exchange Commission (SEC). If approved, this could have a positive impact on the crypto market and indicate strong support from the asset management sector for digital assets.

Greenpeace emphasizes the negative impact of this kind of investment on the environment. In a report released on August 14, 2023, they showed that rising energy consumption and carbon emissions related to cryptocurrencies were at the top, especially as Bitcoin's price and trading volume increased, could contribute to heavy losses to climate and society as a whole.

With increasingly visible roles in the crypto market, BlackRock is in the spotlight because of its influence on the digital currency ecosystem and its impact on environmental issues that are increasingly pressing.