Stanley Druckenmayer’s family office invests $125.6 million in Bitcoin mining stocks

Stanley Druckenmayer’s family office allocated $125.6 million to a portfolio of Bitcoin mining companies in the most recent quarter, marking a notable shift from its previous exposure to AI chip makers.

Allocation details

The investment was disclosed in a Form 13F filing covering holdings as of June 30. The four miner stocks added were:

• Bitdeer Technologies (BTDR) – $64.7 million
• Hut 8 Mining (HUT) – $36.3 million
• Riot Platforms (RIOT) – $20.7 million
• IREN (IREN) – $4.0 million

These positions represent roughly 2.4 % of the office’s total reported portfolio of $5.21 billion.

Performance to date

Since the June 30 snapshot, all four miner stocks have declined:

• Bitdeer Technologies – down 25.5 %
• Hut 8 Mining – down 24.4 %
• Riot Platforms – down 24.3 %
• IREN – down 10 %

The combined market value of the holdings is now about $94.9 million, reflecting an unrealized loss of roughly $30.7 million.

Context and strategy

Druckenmayer, known for a 30‑year streak without a losing year and an average annual return of 30 %, previously sold positions in major U.S. AI chip stocks such as Broadcom, Intel and Micron Technology to fund the miner purchases. He has expressed admiration for Bitcoin as a brand and store of value, though he has not purchased the cryptocurrency directly, opting instead for exposure through mining equities.

Outlook

Bitcoin’s price has risen about 33 % since late June, from roughly $58,600 to above $81,000, outpacing the miner stocks and creating a lagging “bridge” trade. The next 13F filing is due in November, which may reveal additional adjustments to the position.