Thames Capital Loads Up on Bitfarms With 7 Million Shares

• This was portion of a broader buy-in to crypto mining stocks.

• To varying degrees, each of these caller Thames holdings are pushing further into a high-demand business.

• 10 stocks we similar amended than Bitfarms ›

In October, it was casual to beryllium a cryptocurrency bull, with a large rally propelling respective integer coins and tokens to caller all-time highs. In that environment, galore investors were anxious not lone to get their hands connected the cryptos themselves, but besides connected shares of cryptocurrency companies.

One organization capitalist that dove successful heavy was Thames Capital Management. Its regulatory filings uncover that the steadfast took caller stakes successful a clutch of crypto mining companies presently leaning harder into information halfway operations, astatine varying degrees. Notable among these was Thames' acquisition of more than 7 cardinal shares of Bitfarms (NASDAQ: BITF). Let's radiance a airy connected that investment.

Bitfarms wasn't the lone crypto miner-turned data-center powerfulness Thames bought during the quarter.

A examination of the concern manager's 2 latest quarterly 13F forms reveals that it besides initiated caller positions successful Bitfarm peers Cipher Mining, Bitmine Immersion Technologies, Iren, Hut 8, and Riot Platforms.

As if that weren't capable of a committedness to this alternatively specialized sector, Thames besides accrued its existing involvement successful Terawulf, adding 314,402 shares of the institution for a caller full of astir 1.45 million.

All told, arsenic of the extremity of the 3rd quarter, the stakes successful those 7 companies (Bitfarms included) had a marketplace worth of astir $128 million. That comprised much than 18% of Thames' equity portfolio astatine that time.

And that doesn't number the 2 positions it held successful crypto stocks that aren't miners. The archetypal was a 170,358-share holding of Galaxy Digital (note: this institution is besides expanding its engagement successful the information halfway segment). No. 2 was Volatility Shares Trust-2x Ether ETF, which, arsenic it says connected the label, is an Ethereum-focused exchange-traded fund.

Like galore privately held, specialized fiscal enterprises, Thames tends to support its cards adjacent to the vest. Neither the steadfast nor immoderate of its officials has stated the reasons for the crypto miner/data-center relation buy-in.

We can, however, infer a strategy based connected the action. Thames didn't drawback up shares of each banal successful that niche, but the 7 selected are among the much salient and promising. If I had to hazard a guess, I'd ideate the conception is that astatine slightest 1 oregon 2 of those companies volition surge up of the others successful the information halfway sphere.