Royal Bank Sells Sizeable Stake in Bitcoin Mining Company BitMine

Royal Bank of Canada has decreased its holdings in BitMine Immersion Technologies by 39.2% during the first quarter, according to a recent disclosure with the Securities & Exchange Commission.

The firm owned approximately 465,220 shares of the company's stock after selling 299,577 shares during the period, and held about 0.08% of BitMine Immersion Technologies worth $9,202,000 as of its most recent filing.

This is not an isolated move by Royal Bank of Canada; Banque Cantonale Vaudoise also increased its position in shares of BitMine Immersion Technologies by 72.3% during the first quarter, and now owns 1,859 shares of the company's stock worth $37,000.