BlackRock Transfers BTC and ETH to Coinbase

By: crypto insight|2026/01/13 23:30:08


Key Takeaways
BlackRock has recently conducted a significant transaction involving cryptocurrency deposits into Coinbase.
The transaction included the transfer of 3,290 BTC, valued at approximately $302.9 million.
Additionally, BlackRock transferred 5,692 ETH, worth around $17.82 million, to the exchange.
Further cryptocurrency transactions from BlackRock are anticipated in the near future, according to monitoring data.

WEEX Crypto News, 13 January 2026
In a remarkable move that highlights the growing interest of major financial players in the cryptocurrency market, BlackRock has carried out a substantial transfer of digital assets to Coinbase. According to the monitoring service Onchain Lens, the global investment management firm has shifted a substantial volume of both Bitcoin (BTC) and Ethereum (ETH) to the renowned cryptocurrency exchange. This strategic maneuver reflects a continuation of BlackRock's engagement with the digital currency space, illustrating the asset giant's confidence in these digital assets as part of its diversified investment approach.
Significant Cryptocurrency Deposits by BlackRock
In a transaction capturing the attention of the financial world, BlackRock recently deposited 3,290 BTC, equating to roughly $302.9 million, into Coinbase. This substantial investment is complemented by the deposit of 5,692 ETH, valued at about $17.82 million. These figures underscore BlackRock's significant stake in the crypto market and its strategic focus on expanding its digital asset portfolio.
With BlackRock's massive influence in global finance, this move is undoubtedly significant. The transaction underlines the importance of cryptocurrency as an alternative asset class, and BlackRock's keen interest in harnessing its potential within traditional investment frameworks.
The Role of Coinbase in Cryptocurrency Custody
Coinbase stands as the world's largest Bitcoin custodian and one of the most trusted cryptocurrency exchanges, boasting over 108 million users. Its role as a custodian for such a substantial volume of cryptocurrency speaks volumes of its reliability and infrastructure capabilities, which are critical to managing large-scale financial movements like those initiated by BlackRock.
According to publicly available information, Coinbase is not just a platform for trading crypto assets but also offers advanced trading tools and security features that cater to institutional investors. This platform's infrastructure strongly aligns with BlackRock's requirements for safe and efficient management of significant digital asset transfers.
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The Future Implications of BlackRock's Crypto Activity
The move by BlackRock to substantially increase its holdings in digital assets through Coinbase could set the stage for similar moves by other large financial institutions. It reflects a broader trend where traditional finance is converging with digital innovation, leading to increased institutional participation in the crypto economy.
The potential increase in forthcoming transactions from BlackRock also indicates a sustained interest and confidence in the market fundamentals of cryptocurrencies, particularly Bitcoin and Ethereum. This confidence is likely influenced by cryptocurrencies' growing reputation as an inflation hedge and a portfolio diversification tool.
Conclusion: Navigating the Growing Tide of Institutional Investments
BlackRock's recent substantial deposit of BTC and ETH into Coinbase clearly demonstrates the growing acceptance and incorporation of digital assets into mainstream finance. As this trend continues to gain momentum, it presents increased opportunities for other financial institutions to explore the benefits of cryptocurrencies.
Notably, WEEX stands ready to facilitate both seasoned and new investors in exploring these opportunities, maintaining a streamlined approach to registration and investment. Interested individuals can sign up on WEEX [here](https://www.weex.com/register?vipCode=vrmi).
FAQ
What did BlackRock recently do with cryptocurrencies?
BlackRock recently deposited a large amount of Bitcoin and Ethereum into Coinbase. The transaction involved 3,290 BTC, valued at approximately $302.9 million, and 5,692 ETH, worth roughly $17.82 million.
Why is this transaction significant?
This transaction highlights BlackRock's strategic interest in expanding its crypto holdings and signals the continued integration of digital assets into traditional financial portfolios by major players.
What is the importance of Coinbase in this transaction?
Coinbase, as a leading cryptocurrency exchange, provides the necessary infrastructure to handle large transactions securely and efficiently, making it a preferred choice for institutional investors like BlackRock.
What could be the implications of BlackRock's move for the crypto market?
BlackRock's significant transactions may encourage other institutional investors to increase their crypto asset allocations, enhancing the crypto market's legitimacy and potentially driving further innovation and adoption.
How can individuals take advantage of these trends?
Interested investors can explore cryptocurrency investments through platforms like WEEX, which offers a user-friendly interface for both new and experienced investors in the crypto space.

On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.

CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."

"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."

The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.

Operating Costs and Expenses

The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

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