In a slew of first-quarter 2026 13F filings, billionaire investor Daniel Loeb’s Third Point stood out by initiating a new position in Hut 8, a publicly traded Bitcoin mining company. The move, disclosed alongside new stakes in Meta, Alphabet, and SPDR Gold Shares, marks a direct foray into the crypto infrastructure space by one of Wall Street’s most closely watched hedge funds.
The filing reveals that Third Point gained exposure to the Bitcoin mining sector, aligning with a broader trend of traditional finance exploring digital assets through regulated equity vehicles. While other prominent funds like Stanley Druckenmiller’s Duquesne Family Office and Christopher Hohn’s TCI rotated between mega-cap tech stocks—selling Alphabet and Microsoft, buying Broadcom and Visa—Loeb’s fund chose to add a pure-play Bitcoin miner to its portfolio.
Hut 8 is a leading North American Bitcoin mining and high-performance computing firm, operating large-scale mining facilities. Third Point’s decision to buy shares underscores a growing institutional conviction in Bitcoin’s long-term value, particularly as the cryptocurrency has risen 27% year-to-date in 2026. The move is especially notable given that many funds remained focused on AI, cloud computing, and platform businesses; only Third Point made a clear pivot into crypto-adjacent equities.
The investment signals that, despite volatility in mining economics, top-tier investors see Bitcoin mining as a viable proxy for Bitcoin itself, offering leveraged exposure to the digital asset’s price while avoiding direct custody challenges. Combined with Berkshire Hathaway’s massive Alphabet stake increase and Pershing Square’s new Microsoft position, the filings paint a picture of high-conviction bets on both AI and digital asset infrastructure.
