Stanley Druckenmiller’s Duquesne Family Office disclosed in a Form 13F on August 14 that it held $125.6 million in Bitcoin miner stocks as of June 30 — Bitdeer $64.7M, Hut 8 $36.3M, Riot $20.7M, IREN $4M — while boosting Taiwan Semiconductor to $281.6M and selling Broadcom, Intel and Micron. Those miner stakes have fallen roughly 24% (Bitdeer −25.5%, Hut 8 −24.4%, Riot −24.3%) to about $94.9M, a paper loss of ~$30.7M, even as Bitcoin rose ~33% from ~$58.6K to above $81K, underscoring a lagging crypto/mining trade amid AI-related power demand and the snapshot limits of 13F reporting.

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In Brief

Druckenmiller's family office put $125.6 million into four Bitcoin mining stocks.
He sold Broadcom, Intel, and Micron, but lifted Taiwan Semiconductor to $281.6 million.
All four miners have since fallen about 24%, while Bitcoin gained 33%.

Stanley Druckenmiller’s family office put $125.6 million into Bitcoin mining stocks last quarter. It sold out of major American AI chip stocks like Broadcom, Intel, and Micron Technology to make room for BTC.

Druckenmiller is famous for investing without a single year of loss for more than 30 years straight. His average annual return is 30%. During the 1992 currency crisis, he helped George Soros make about $1 billion betting against the British pound.

That’s why Wall Street still watches what Druckenmiller buys.

🇺🇸🇬🇧HOW SOROS BROKE THE BANK OF ENGLANDU.S Treasury Sec. Scott Bessent revealed how George Soros, Stan Druckenmiller, and their team executed the famous 1992 bet against the British pound.Their insight? UK homeowners were drowning in floating-rate mortgages, making high… https://t.co/o7dhpZ6WrA pic.twitter.com/HEy0gxqS0j
— Mario Nawfal (@MarioNawfal) March 19, 2025

Understanding Druckenmiller’s $125 Million Bitcoin Bet

Duquesne Family Office listed the four new stakes on August 14. The disclosure came in a Form 13F, the quarterly report big investors must file with regulators. It shows what he held on June 30.

BREAKING: Druckenmiller's Duquesene has updated its 13F.New positions: -$GOOGL: $120.2 million$FOXA: $115.0 million$CDW: $104.6 million$BTDR: $64.7 million$DAL: $56.5 million$AMD: $42.3 millionLargest holdings:$TSM: $281 million$STM: $232 million$AMZN: $129 million pic.twitter.com/1QblRfozic
— unusual_whales (@unusual_whales) August 14, 2026

Bitdeer Technologies was the largest at $64.7 million. Hut 8 followed at $36.3 million, then Riot Platforms at $20.7 million and IREN at $4 million.

The total is small, at roughly 2.4% of a $5.21 billion portfolio.

It still marks a change of mind. In October 2023, Druckenmiller said he owned no Bitcoin, adding that he probably should. He had held it earlier and sold. He is back now, but sideways, through the miners.

Stanley Druckenmiller is one of the most successful hedge fund managers on Wall Street and is worth $6,200,000,000.He says, “Young people look at #bitcoin as a store of value. It’s a brand. I like it. I dont own any, but I should”pic.twitter.com/DXjrnvE1Qc
— Documenting ₿itcoin 📄 (@DocumentingBTC) October 30, 2023

Why Miners, Not Bitcoin

He skipped Bitcoin (BTC) itself and the spot funds too, buying electricity instead. A new grid connection can take years to secure. Miners spent a decade locking up cheap power. AI firms want that capacity now and cannot wait for their own.

Bitdeer shows the pitch, having mined 2,694 BTC last quarter. It also signed a $4.7 billion, 16-year lease with Volta. The deal covers a Norwegian site running Nvidia chips for an AI lab. Riot’s data center pivot copies the model.

Druckenmiller did not quit AI, though. He raised Taiwan Semiconductor to $281.6 million from $167.4 million. He also opened stakes in Advanced Micro Devices, Lam Research, Equinix, and Alphabet.

The Most Profitable Investor’s Bitcoin Bet is Down 24%

So far, the trade has not worked. All four Bitcoin miner stocks have fallen since June 30. Bitdeer is off 25.5%, Hut 8 is down 24.4%, Riot is down 24.3%, and IREN is down 10%.

BTDR, HUT, RIOT, and IREN Stock Performances. Source: TradingView

Those same share counts are worth about $94.9 million today. That is a paper loss of about $30.7 million. Bitcoin went the other way. It has climbed roughly 33% since late June, from about $58,600 to levels above $81,000 as of this writing.

The bridge trade therefore lagged the asset it was built to capture. MARA and CleanSpark posted heavy quarterly mining losses in August as the same squeeze hit the sector.

Still, there is one caveat that matters. A 13F is a snapshot, not a live feed. Druckenmiller may have bought more or sold out since June 30. His next filing lands in November.

Read the article at BeInCrypto