New Jersey Pension Invested $7M in Bitcoin Mining Stocks Last Quarter
New Jersey Pension Fund invested $7M in bitcoin mining stocks last quarter with multimillion-dollar bets on two of the industry’s biggest names.
The state-managed pension ended June with $3.66 million in Riot Blockchain and $3.39 million in Marathon Digital Holdings according to disclosure documents.
New Jersey’s Common Pension Fund D has $30 billion in total assets for state employees.
The allocation appears to be New Jersey’s first in the crypto sector. Other state-run pension schemes have also warned to bitcoin mining stocks in recent months, most notably California’s.
The NJ Division of Investment did not immediately reply to a request for comment.
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