Leopold Aschenbrenner Doubles Down on Bitcoin Miners with $13.67 Billion Investment

Leopold Aschenbrenner: Billion-Dollar Bet on Bitcoin Miners

Leopold Aschenbrenner, a young hedge fund founder and former OpenAI researcher, has significantly increased his investments in Bitcoin miners and AI infrastructure companies. According to his latest 13F filing with the US Securities and Exchange Commission (SEC), Aschenbrenner expanded his disclosed equity exposure from $5.5 billion at the end of 2025 to $13.67 billion as of March 31.

His largest long positions include companies that provide power, data center capacity, and compute infrastructure for the AI sector. The filing lists investments in Bitcoin miners and related infrastructure firms such as IREN, Core Scientific, Riot Platforms, CleanSpark, Bitfarms, Bitdeer, and Hive Digital. These companies are increasingly positioning themselves not just as Bitcoin mining operators but also as providers of energy and high-performance computing infrastructure for AI workloads.

"The existing access to power contracts and large sites makes them attractive to investors as demand for AI data centers rises," Aschenbrenner noted.

Aschenbrenner's hedge fund, Situational Awareness, was founded in 2024, but he reported stock positions worth around $5.5 billion by the end of 2025. Due to the fund's impressive performance, his new investments are being closely monitored.

Key Takeaways: Aschenbrenner's portfolio reflects a strong belief in the long-term growth of physical infrastructure for AI, with significant investments in Bitcoin mining and related sectors.

Bitfarms Stock in Focus After Major Investor Increase

The Bitfarms stock has gained attention following a substantial increase in holdings by the hedge fund Situational Awareness LP and strong movements in the Bitcoin mining sector. According to a 13F disclosure dated March 31, 2026, the stake in Bitfarms (now Keel Infrastructure) was raised from 6.90 million to 19.88 million shares, as reported by IT BOLTWISE on May 17, 2026.

Bitfarms operates data centers for Bitcoin mining in several countries, generating revenue primarily from validating transactions on the Bitcoin blockchain. The stock is listed on Nasdaq in the US and TSX in Canada, and it is also traded in Germany. The combination of crypto exposure, energy prices, and growing institutional interest makes Bitfarms a topic of interest for risk-tolerant investors in Germany.

Key Takeaways: The increase in Situational Awareness LP's position highlights institutional interest in Bitfarms, which is seen as a volatile investment with significant potential returns and risks.

Bitcoin May Hit Bottom in October Amid Historical Halving Cycle

Bitcoin is less than 100,000 blocks away from its next halving in April 2028, where the mining reward will decrease from 3.125 to 1.5625 Bitcoins per block. Historically, Bitcoin bear markets have tended to end 12 to 18 months before a halving, suggesting a potential bottom could occur as early as October.

Analysts indicate that $76,000–$77,000 is a critical support level for BTC, with a clear break below potentially opening the way to the $70,000–$72,000 range and subsequently to $60,000. Jean-David Péquignot, Chief Commercial Officer of Deribit, emphasized the importance of these levels in the current market context.

"A clear break here brings the $70,000 to $72,000 mark into focus; the next significant level below lies at $60,000," Péquignot stated.

Key Takeaways: The upcoming halving and historical trends suggest that Bitcoin may experience significant price movements, with critical support levels indicating potential future price ranges.

Sources:

• Milliardenwette: KI-Wunderkind setzt auf Bitcoin-Miner
• Bitfarms-Aktie (CA09173B1072): Bitcoin-Miner im Fokus nach neuem Großinvestor und Rallye der Mining
• Bitcoin könnte im Oktober seinen Tiefststand erreichen, wenn der historische Belohnungs-Halbierungszyklus anhält