Bitcoin mining companies are starting to attract some of the largest hedge funds in the United States of America as shareholders. Is it just the beginning?

‍What’s happening:‍

• Legendary hedge fund Lone Pine Capital has begun buying publicly listed Bitcoin mining companies according to new filings with the United States Securities and Exchange Commission
  

By the numbers:‍

• Lone Pine Capital has assets under management of approximately $12B USD
  
• Lone Pine Capital purchased 1.2M shares of Hut 8 (NASDAQ: HUT) and 3.1M shares of TeraWulf (NASDAQ: WULF)
  
• Lone Pine Capital also purchased 712,000 shares of Iris Energy (NASDAQ: IREN) and 1.3M shares of Bitdeer Technologies (NASDAQ: BTDR)
  

Why it matters:‍

• The new positions from Lone Pine Capital are further validation that Bitcoin miners are beginning to capture excitement in the public markets, following a lot of skepticism and concern that the latest Bitcoin halving would massively diminish profitability of mining Bitcoin at scale
  

Going deeper:‍

• Bitcoin mining has continued to attract meaningful capital as well as the attention of some of the most successful entrepreneurs in the world, with Jack Dorsey and Block (NYSE: SQ) just recently announcing their plans to ramp up their Bitcoin chip and hardware development ambitions
  

The intrigue:‍

• Billionaire and legendary investor Stanley Druckenmiller also recently increased his position in TeraWulf though his family office Duquesne

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