Aurelius Capital Management invested $4.5 million in Riot Platforms during the third quarter, purchasing 238,220 shares. This new position represents 8.2% of the fund’s 13F reportable assets under management. Riot Platforms is now the fifth-largest holding in Aurelius’s portfolio. The company provides Bitcoin mining services and power distribution equipment to institutional clients in the U.S. Riot Platforms reported record revenue of $180.2 million in the third quarter, doubling year-over-year, with $104.5 million in net income and $197.2 million in adjusted EBITDA. The company also has $330.7 million in unrestricted cash and nearly 19,300 bitcoins in its portfolio. Shares of Riot Platforms were priced at $14.50, up 30% in the past year, outperforming the S&P 500.

Read more at Yahoo Finance: Why This Fund Bet $4.5 Million on Riot Stock Amid a 30% One-Year Run