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Title: [2017-10-06] Why Fidelity Is Mining Bitcoin and Ethereum Post by: Karartma1 on October 07, 2017, 08:33:15 AM Quick note about the company mentioned in the article
https://en.wikipedia.org/wiki/Fidelity_Investments (have a look at their turnover) Fidelity CEO Abby Johnson surprised a tech conference this spring by revealing the brokerage giant didn’t just study cryptocurrency. It was also mining the digital assets—and making money while doing so. It turns out Fidelity has been at this for three years, using its own computers to harvest the digital currencies bitcoin and Ethereum, which today trade for around $4,300 and $300 respectively. Hadley Stern of Fidelity Labs tells Fortune that the U.S. based mining operation is very modest, however, and the undisclosed profits—CEO Johnson reportedly told the conference the mining “is actually making a lot of money”—are mostly the result of cryptocurrencies’ dramatic rise in value. (Bitcoin traded as low as $200 in early 2015, while the newer Ethereum was just $8 at the start of this year.) More @ http://fortune.com/2017/10/06/fidelity-bitcoin-ethereum/ |