Bitfarms Sees Significant Investment from Aurelius Capital Management
On November 13, Aurelius Capital Management, based in New York City, disclosed a new equity position in Bitfarms (NASDAQ:BITF), acquiring over 6.7 million shares valued at $19 million. This acquisition, as reported in a recent SEC filing, positions Bitfarms as the largest reported U.S. equity holding for the fund for the quarter.
The new investment represents 34.4% of Aurelius Capital Management's 13F assets under management, indicating a strong confidence in Bitfarms despite the stock being 70% below its peak. This strategic move highlights the growing interest in cryptocurrency mining stocks, particularly in the current market environment.
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"Bitfarms is now a significant part of our portfolio, reflecting our belief in its potential for recovery and growth," said a representative from Aurelius Capital Management.
Key Takeaways:
- Aurelius Capital Management acquired 6.7 million shares of Bitfarms valued at $19 million.
- Bitfarms now constitutes 34.4% of the fund's 13F assets under management.
- The stock remains 70% below its peak, indicating potential for future growth.
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