Aurelius Capital Management acquired 6.7 million shares of Bitfarms in Q3, representing 34.4% of their assets under management, valued at $19 million, making it their largest holding. Bitfarms’ shares were at $2.53, up 39% YOY, outperforming the S&P 500. The company operates cryptocurrency mining farms, generating revenue from Bitcoin transactions.

In November, Aurelius Capital Management disclosed a new $19 million equity position in Bitfarms, making it their largest holding. Top holdings include BITF, CORZ, CIFR, WULF, and RIOT. Bitfarms generated $69 million in Q3 revenue, up 156% YOY, with $20 million adjusted EBITDA. The company closed a $588 million convertible note offering and had $814 million in total liquidity.

Bitfarms focuses on large-scale, energy-efficient Bitcoin mining, hosting third-party hardware, and providing electrical services. The company targets institutional and commercial clients for mining hosting and electrical services. Headquartered in Toronto, Bitfarms is a key player in digital asset mining. The fund’s concentrated position in Bitfarms indicates a long-term infrastructure investment approach.

Read more at Yahoo Finance: This Bitcoin Mining Stock Is Still 70% Below Its Peak but Now Makes Up 34% of a Portfolio