One Fund Just Bet $5 Million on This Bitcoin Infrastructure Play Beating the S&P 500 by 75 Points This Past Year

2 hours ago 3

Jonathan Ponciano, The Motley Fool

Sat, December 20, 2025 astatine 1:35 PM CST 5 min read

New York City-based Aurelius Capital Management bought 450,000 shares successful TeraWulf during the 3rd quarter.
The shares were worthy astir $5.1 cardinal astatine quarter-end.
The caller TeraWulf presumption represents 9.3% of Aurelius’ reportable AUM arsenic of September 30.
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On November 13, New York City-based Aurelius Capital Management disclosed a caller presumption successful TeraWulf (NASDAQ:WULF), acquiring 450,000 shares valued astatine astir $5.1 million.

Aurelius Capital Management disclosed a caller equity presumption successful TeraWulf (NASDAQ:WULF), acquiring 450,000 shares valued astatine $5.1 cardinal arsenic of September 30. The transaction, elaborate successful an SEC filing dated November 13, places TeraWulf among the fund’s largest holdings astatine quarter-end. The money reported full U.S. equity assets nether absorption (AUM) of $55.2 cardinal crossed 9 positions.

The caller presumption present represents 9.3% of Aurelius Capital's reportable AUM.

Top holdings aft the filing:

NASDAQ:BITF: $19 cardinal (34.4% of AUM)
NASDAQ:CORZ: $8.4 cardinal (15.3% of AUM)
NASDAQ:CIFR: $6.3 cardinal (11.4% of AUM)
NASDAQ:WULF: $5.1 cardinal (9.3% of AUM)
NASDAQ:RIOT: $4.5 cardinal (8.2% of AUM)

As of Friday, WULF shares were priced astatine $12.52, up a staggering 93% implicit the past twelvemonth and good outperforming the S&P 500's 16.5% summation successful the aforesaid period.

Metric

Value

Market Capitalization	$5.2 billion
Revenue (TTM)	$167.6 million
Net Income (TTM)	($586.6 million)
Price (as of Friday)	$12.52

TeraWulf operates bitcoin mining facilities successful New York and Pennsylvania, generating gross done the accumulation and merchantability of integer assets.
The concern exemplary centers connected owning and operating energy-efficient infrastructure for bitcoin mining, monetizing mined bitcoin and related services.
The institution serves organization investors and participants successful the integer plus ecosystem seeking vulnerability to bitcoin mining operations.

TeraWulf is simply a integer plus exertion institution focused connected large-scale bitcoin mining successful the United States. The institution leverages proprietary infrastructure astatine strategically located facilities to optimize operational ratio and scalability. With a absorption connected energy-efficient operations, TeraWulf positions itself to capitalize connected the increasing request for integer plus accumulation and blockchain infrastructure.

This caller presumption sits successful a portfolio that’s dense into different publically traded bitcoin miners and infrastructure names, suggesting a presumption that the sector’s hazard illustration has improved capable to warrant attraction alternatively than diversification. With astir fractional of reported assets tied up successful conscionable 2 holdings and a sizable magnitude dispersed crossed bitcoin-adjacent infrastructure plays, the determination signals immoderate assurance successful the cryptocurrency industry’s quality to station meaningful returns.

That thesis lines up with TeraWulf’s latest earnings. In the 3rd quarter, the institution reported gross of $50.6 million, up 87% twelvemonth implicit twelvemonth acknowledgment to not lone by higher bitcoin prices but besides the commencement of high-performance computing lease revenue, which contributed $7.2 cardinal successful its archetypal reported quarter. Management disclosed much than $17 cardinal successful long-term, credit-enhanced HPC contracts and implicit $5 cardinal successful completed semipermanent financings, shifting the concern toward infrastructure-style currency flows alternatively than axenic commodity exposure. Cash, meanwhile, stood astatine astir $713 cardinal astatine quarter-end, providing liquidity to money enlargement portion bitcoin mining remains volatile. Ultimately, this looks similar a stake that integer infrastructure backed by semipermanent contracts tin warrant premium positioning adjacent aft a crisp run-up successful the stock.