Fidelity is hiring bitcoin mining engineer to scale its operations
January 20, 2020, 8:34AM EST · 2 min read
- Fidelity is seeking a bitcoin mining engineer to expand its operations
- The role is to help design, build, and maintain the infrastructure for its bitcoin mining operations
- Fidelity started mining bitcoin and ether in 2014
Asset management giant Fidelity, with over $7 trillion in client assets, is seeking a bitcoin mining engineer to scale its operations.
According to a job posting on its website, Fidelity is hiring for the role to help design, build, and maintain the infrastructure to run and scale its bitcoin mining operations.
The role requires candidates to have 3 to 5 or more years of experience in DevOps (development operations)/engineering. Knowledge of databases, such as SQL and MongoDB, is also required, among other expertise. The job posting was published on Fidelity's website last month and on LinkedIn last week.
"Over the past couple of years, we have expanded our mining efforts to ramp up our knowledge of the space. We have explored optimal locations, hardware procurement, mining farm setups, and the economics of the mining industry as a whole,” a Fidelity spokesperson told The Block.
Mining since 2014
Fidelity began mining bitcoin (BTC) and ether (ETH) in 2014 and is reportedly its profitable venture. In 2017, Abigail Johnson, CEO of Fidelity, said that the company started mining for educational purposes, but now makes good money out of it. “We set up a small bitcoin and ethereum mining operation…that miraculously now is actually making a lot of money."
Fidelity then set up its Digital Assets unit in October 2018. The unit offers crypto custody services, as well as trade execution services with institutional focus. Fidelity Digital Assets is also seeking a product designer, which will be a "core member" of the unit to strategize and develop "new products through user research insights, wireframes, prototypes, and customer advocacy."
The asset management giant also runs a cryptocurrency venture capital unit called Avon, as The Block reported late last year. Avon has made three public investments - crypto lending firm BlockFi, and blockchain data analytics firms Flipside Crypto and Elementus. A Fidelity spokesperson told The Block at the time that Avon focuses on "identifying the early use cases for crypto and blockchain technology and investing in businesses that will accelerate growth and adoption."
UPDATE (Jan. 23): This story has been updated to include comments from a Fidelity spokesperson.
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