---
title: "Fidelity Investments Is Mining for Cryptocurrency"
description: "Abigail Johnson, CEO of major investment firm Fidelity Investments, has set a precedent for other companies by venturing into cryptocurrency mining."
date: "2017-09-30"
modified: "2017-09-30"
authors:
  - name: "Chelsea Gohd"
    link: "https://futurism.com/authors/chelseagohd"
url: "https://futurism.com/fidelity-investments-mining-cryptocurrency"
categories:
  - "Blockchain"
  - "Cryptocurrency"
  - "Future Society"
tags:
  - "abigail johnson"
  - "bitcoin"
  - "bitcoin mining"
  - "cryptocurrency"
---

# Fidelity Investments Is Mining for Cryptocurrency

![cryptocurrency bitcoin bitcoin mining abigail johnson](<https://futurism.com/wp-content/uploads/2017/09/mining-2648005_1920.jpg>)
*\<em\>Image: \<a href="https://pixabay.com/en/mining-ethereum-market-digital-2648005/" target="\_blank"\>Pixabay\</a\>\</em\>*

## Investing in Crypto

Investment and financial institutions are beginning to take cryptocurrencies and blockchain technologies more seriously. [Among them is Fidelity Investments, which manages $2.3 trillion in assets](<https://techcrunch.com/2017/09/28/fidelity-ceo-abigail-johnson-says-the-company-is-mining-cryptocurrencies/>). Fidelity, while exploring the potential of bitcoin and dipping their toes into the blockchain waters, has recently begun a cryptocurrency mining program that is already generating a profit.

At the 2017 Consensus conference, [Fidelity's CEO Abigail Johnson said](<https://qz.com/990229/one-of-the-worlds-largest-financial-services-firms-is-mining-bitcoins/>), "We set up a small bitcoin and ethereum mining operation…that miraculously now is actually making a lot of money." The company started mining to learn more about the process.

[Crypto mining](<https://www.cryptocompare.com/mining/guides/>), thankfully, doesn't involve any pickaxes or collapsible underground tunnels. Instead, it is a process in which crypto transactions are verified and added to the blockchain — or public ledger. This process also allows for the creation of new bitcoin.

## Financial Mining

The applications of blockchain technologies, and specifically cryptocurrencies, extend well beyond financial transactions. As more (and larger) companies show interest and seriously invest in a blockchain-based future, these technologies will grow in potential. Mining is becoming increasingly commonplace. [Some individuals](<https://qz.com/1088449/someone-made-over-60000-hijacking-peoples-computers-to-mine-cryptocurrency/>) are trying to turn a profit with it, but right now it's only a realistic moneymaking method (which is debated) for large institutions.

Fidelity has set the stage as a massive firm confident in venturing into crypto mining, so perhaps blockchain technologies will continue to be taken more seriously and adopted by a greater number of bigger organizations. Johnson will hopefully pave the way for others with a large presence to get involved. She has mined about 200,000 satoshis so far, according to a report in [The Financial Times](<https://www.ft.com/content/876ec06c-3f46-11e7-9d56-25f963e998b2>), and by the looks of it, she and Fidelity will continue to push forward as major supporters of blockchain technologies and cryptocurrency mining.

*Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.*

### Author social links  
[Twitter](<https://x.com/chelsea_gohd>)