It’s not really about the profits: Even though Johnson has previously said that the mining “is actually making a lot of money,” that’s not exactly the point. The real purpose of the mining is to learn about the burgeoning cryptocurrency market.
Fidelity wants to be at the forefront: The financial services company wants to continue aggressively experimenting at a time when others on Wall Street are skeptical about the space. This summer, Fidelity struck a partnership with Coinbase, the San Francisco-based exchange, to let customers see the value of their digital currency alongside stocks and other assets on their Fidelity page.
It’s collecting data about crypto in the early days: Through its Coinbase partnership, Fidelity can get a better sense of just how many investors are interested in cryptocurrency. Additionally, the company has included Bitcoin in a program that allows people to donate specialized assets (like fine art) to charity. Through this initiative, Fidelity is interviewing people who donate Bitcoin to assess market demand.
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