Vault-13

BITFARMS LTD BITF

COM · Common Stock · CUSIP 09173B107 · ISIN CA09173B1076

131 institutional holders -16 vs Q1 2025
105,819,195105.8m shares reported held*
$88.8mreported value*
15 new 40 added 35 reduced 30 sold out net bought ≈ $11.3m (+13.6m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($2.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $0.84. Options: 10 managers hold calls ($3.4m notional), 7 hold puts ($2.8m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 88Q4 22: 91Q1 23: 77Q2 23: 86Q3 23: 95Q4 23: 120Q1 24: 133Q2 24: 137Q3 24: 146Q4 24: 148Q1 25: 147Q2 25: 131131Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202288
Q4 202291
Q1 202377
Q2 202386
Q3 202395
Q4 2023120
Q1 2024133
Q2 2024137
Q3 2024146
Q4 2024148
Q1 2025147
Q2 2025131

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 23: 48 bought or addedQ3 23: 36 cut or sold outQ4 23: 69 bought or addedQ4 23: 34 cut or sold outQ4 23Q1 24: 80 bought or addedQ1 24: 42 cut or sold outQ2 24: 71 bought or addedQ2 24: 56 cut or sold outQ2 24Q3 24: 58 bought or addedQ3 24: 66 cut or sold outQ4 24: 77 bought or addedQ4 24: 60 cut or sold outQ4 24Q1 25: 72 bought or addedQ1 25: 62 cut or sold outQ2 25: 55 bought or addedQ2 25: 65 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20234836
Q4 20236934
Q1 20248042
Q2 20247156
Q3 20245866
Q4 20247760
Q1 20257262
Q2 20255565

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$10m$20m$30mQ3 24 calls: $16.3mQ3 24 puts: $8.4mQ3 24P/C 0.51Q4 24 calls: $21.9mQ4 24 puts: $7.2mQ4 24P/C 0.33Q1 25 calls: $4.0mQ1 25 puts: $2.5mQ1 25P/C 0.61Q2 25 calls: $3.4mQ2 25 puts: $2.8mQ2 25P/C 0.82
Numbers
QuarterCallsPutsP/C
Q3 2024$16.3m$8.4m0.51
Q4 2024$21.9m$7.2m0.33
Q1 2025$4.0m$2.5m0.61
Q2 2025$3.4m$2.8m0.82

Biggest buyers

ROYAL BANK OF CANADA Added +11,274,980+11.3m
Vident Advisory, LLC Added +4,677,425+4.7m
Invesco Ltd. Added +3,806,810+3.8m
Galaxy Group Investments LLC New +2,900,000+2.9m
GOLDMAN SACHS GROUP INC New +2,666,128+2.7m
BlackRock, Inc. Added +750,554+750.6k
Mariner, LLC Added +529,134+529.1k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +496,894+496.9k
Galaxy Digital Capital Management GP LLC Added +370,227+370.2k
Nuveen, LLC Added +346,547+346.5k

Biggest sellers

MMCAP International Inc. SPC Reduced -5,250,647-5.3m
UBS Group AG Reduced -1,688,001-1.7m
MILLENNIUM MANAGEMENT LLC Reduced -1,575,386-1.6m
Galaxy Digital Capital Management LP Sold out -1,170,150-1.2m
MARSHALL WACE, LLP Sold out -1,065,080-1.1m
BIT Capital GmbH Reduced -854,700-854.7k
Squarepoint Ops LLC Reduced -781,055-781.1k
Hel Ved Capital Management Ltd Sold out -420,000-420.0k
HRT FINANCIAL LP Sold out -400,473-400.5k
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduced -331,744-331.7k

Biggest calls

GROUP ONE TRADING LLC Reduced $1.4m1.7m shares
SIMPLEX TRADING, LLC Reduced $579.0k689.9k shares
CITADEL ADVISORS LLC Reduced $467.3k556.1k shares
IMC-Chicago, LLC Reduced $349.5k416.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $276.0k328.6k shares
Parallax Volatility Advisers, L.P. Reduced $151.8k180.7k shares
WOLVERINE TRADING, LLC Reduced $60.0k80.4k shares
JANE STREET GROUP, LLC Added $47.1k56.8k shares
Squarepoint Ops LLC Reduced $43.7k52.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.2m1.4m shares
CITADEL ADVISORS LLC Added $762.9k908.0k shares
SIMPLEX TRADING, LLC Added $522.0k621.7k shares
GROUP ONE TRADING LLC Reduced $119.3k142.0k shares
Parallax Volatility Advisers, L.P. Reduced $108.1k128.7k shares
WOLVERINE TRADING, LLC Added $47.6k63.8k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
ARMISTICE CAPITAL, LLC 13G · institution new · filed 2025-08-14 10.0% new 1.1m 2025-08-14

Fell to 5% or below in the last year: JANE STREET GROUP, LLC (3.8%, 2026-05-11), Citadel Securities GP LLC (4.0%, 2026-02-12)

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 13,234,97313.2m $11.1m $11.1m 0.00% Added +3.8m +3,806,810
2 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 11,472,53611.5m $9.6m $9.6m 0.00% Added +11.3m +11,274,980
3 Vident Advisory, LLC 0.11% of their portfolio Alpharetta, GA 11,364,10611.4m $9.5m $9.5m 0.11% Added +4.7m +4,677,425
4 VAN ECK ASSOCIATES CORP 0.01% of their portfolio NEW YORK, NY 11,082,82911.1m $9.3m $9.3m 0.01% Reduced -153.1k -153,084
5 MMCAP International Inc. SPC 0.67% of their portfolio GRAND CAYMAN, E9 6,602,0986.6m $5.5m $5.5m 0.67% Reduced -5.3m -5,250,647
6 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.01% of their portfolio CAUSEWAY BAY, K3 5,161,8995.2m $4.3m $4.3m 0.01% Reduced -331.7k -331,744
7 BIT Capital GmbH 0.24% of their portfolio BERLIN, 2M 4,349,0494.3m $3.7m $3.7m 0.24% Reduced -854.7k -854,700
8 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 3,882,1193.9m $3.3m $3.3m 0.00% Added +74.0k +73,954
9 UBS Group AG 0.00% of their portfolio ZURICH, V8 3,795,4223.8m $3.2m $3.2m 0.00% Reduced -1.7m -1,688,001
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 3,649,5463.6m $3.1m $3.1m 0.00% Reduced -132.8k -132,787
11 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 3,449,0023.4m $2.9m $2.9m 0.00% Added +125.2k +125,156
12 Galaxy Digital Capital Management GP LLC 3.18% of their portfolio NEW YORK, NY 3,030,3503.0m $2.5m $2.5m 3.18% Added +370.2k +370,227
13 Galaxy Group Investments LLC 0.36% of their portfolio NEW YORK, NY 2,900,0002.9m $2.4m $2.4m 0.36% New
14 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 2,700,3342.7m $2.3m $2.3m 0.00% Added +496.9k +496,894
15 CONTINENTAL GENERAL INSURANCE CO 0.58% of their portfolio Austin, TX 2,695,2332.7m $2.3m $2.3m 0.58% Unchanged
16 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 2,666,1282.7m $2.2m $2.2m 0.00% New
17 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,179,3932.2m $1.8m $1.8m 0.00% Added +750.6k +750,554
18 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 902,053902.1k $757.9k $757.9k 0.00% Reduced -171.0k -171,038
19 Swiss National Bank 0.00% of their portfolio ZURICH, V8 830,100830.1k $686.2k $686.2k 0.00% Reduced -66.9k -66,900
20 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 789,700789.7k $663.5k $663.5k 0.00% Added +10.6k +10,622
21 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 783,306783.3k $658.1k $658.1k 0.00% Added +217.8k +217,799
22 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.01% of their portfolio Madrid, U3 715,205715.2k $564.1k $564.1k 0.01% Reduced -61.9k -61,900
23 Mariner, LLC 0.00% of their portfolio Overland Park, KS 571,735571.7k $480.4k $480.4k 0.00% Added +529.1k +529,134
24 SIMPLEX TRADING, LLC 0.01% of their portfolio CHICAGO, IL 541,468541.5k $454.0k $454.0k 0.01% Added +253.9k +253,852
25 TD Asset Management Inc 0.00% of their portfolio Toronto, A6 538,314538.3k $445.8k $445.8k 0.00% Added +137.8k +137,782
26 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 493,353493.4k $414.5k $414.5k 0.00% Reduced -255.8k -255,804
27 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 399,740399.7k $335.3k $335.3k 0.00% Reduced -275.7k -275,705
28 Legal & General Group Plc 0.00% of their portfolio London, X0 370,869370.9k $308.5k $308.5k 0.00% Added +14.5k +14,513
29 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 361,995362.0k $299.8k $299.8k 0.00% Added +346.5k +346,547
30 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 307,265307.3k $255.0k $255.0k 0.00% Reduced -46.4k -46,372
31 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 295,194295.2k $248.0k $248.0k 0.00% Reduced -17.7k -17,658
32 Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio TOKYO, M0 277,853277.9k $233.5k $233.5k 0.00% Added +144.6k +144,593
33 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 275,244275.2k $231.3k $231.3k 0.00% Reduced -1.6m -1,575,386
34 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 266,498266.5k $221.3k $221.3k 0.00% Reduced -103.8k -103,800
35 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 251,122251.1k $256.1k $256.1k 0.00% New
36 MACKENZIE FINANCIAL CORP 0.00% of their portfolio TORONTO ONTARIO, A6 244,525244.5k $203.0k $203.0k 0.00% Added +60.5k +60,495
37 Keebeck Wealth Management 0.02% of their portfolio Chicago, IL 222,250222.2k $186.7k $186.7k 0.02% Unchanged
38 Weiss Asset Management LP 0.00% of their portfolio BOSTON, MA 213,750213.8k $179.6k $179.6k 0.00% Unchanged
39 Chicago Partners Investment Group LLC 0.01% of their portfolio CHICAGO, IL 191,812191.8k $243.6k $243.6k 0.01% New
40 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 187,175187.2k $155.4k $155.4k 0.00% New
41 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 186,814186.8k $157.0k $157.0k 0.00% Added +38.4k +38,358
42 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 178,100178.1k $149.6k $149.6k 0.00% Unchanged
43 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 177,532177.5k $147.0k $147.0k 0.00% Added +52.0k +52,044
44 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 175,447175.4k $147.0k $147.0k 0.00% Unchanged
45 Compagnie Lombard Odier SCmA 0.00% of their portfolio 1204 GENEVA, V8 175,000175.0k $144.9k $144.9k 0.00% Unchanged
46 CI INVESTMENTS INC. 0.00% of their portfolio TORONTO, Z4 161,161161.2k $135.0k $135.0k 0.00% Added +65.1k +65,138
47 Virtu Financial LLC 0.01% of their portfolio New York, NY 155,530155.5k $131.0k $131.0k 0.01% New
48 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 150,702150.7k $126.6k $126.6k 0.00% Reduced -781.1k -781,055
49 Harvest Portfolios Group Inc. 0.00% of their portfolio Oakville, A6 146,203146.2k $121.3k $121.3k 0.00% Added +42.2k +42,240
50 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 143,978144.0k $120.9k $120.9k 0.00% Added +127.9k +127,865
51 Baader Bank Aktiengesellschaft 0.00% of their portfolio Unterschleissheim, 2M 143,505143.5k $53.8k $53.8k 0.00% Added +114.2k +114,245
52 INSIGNEO ADVISORY SERVICES, LLC 0.01% of their portfolio MIAMI, FL 135,927135.9k $114.2k $114.2k 0.01% Unchanged
53 Gladstone Institutional Advisory LLC 0.00% of their portfolio Bedminster, NJ 121,700121.7k $102.3k $102.3k 0.00% Reduced -600 -600
54 BOOTHBAY FUND MANAGEMENT, LLC 0.00% of their portfolio NEW YORK, NY 105,055105.1k $88.3k $88.3k 0.00% Unchanged
55 272 Capital LP 0.36% of their portfolio DALLAS, TX 105,055105.1k $88.2k $88.2k 0.36% New
56 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 100,387100.4k $84.3k $84.3k 0.00% Unchanged
57 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 99,10399.1k $82.3k $82.3k 0.00% Reduced -23.8k -23,783
58 Parallax Volatility Advisers, L.P. 0.00% of their portfolio San Francisco, CA 90,00090.0k $75.6k $75.6k 0.00% Reduced -150.0k -150,000
59 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 89,45189.5k $75.2k $75.2k 0.00% Reduced -6.9k -6,923
60 Leonteq Securities AG 0.00% of their portfolio ZURICH, V8 87,57087.6k $73.6k $73.6k 0.00% Reduced -3.6k -3,624
61 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 87,44387.4k $72.6k $72.6k 0.00% Added +744 +744
62 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 85,58085.6k $71.9k $71.9k 0.00% Added +30.0k +30,000
63 Phoenix Financial Ltd. 0.00% of their portfolio Givatayim, L3 84,93284.9k $71.3k $71.3k 0.00% Reduced -109.3k -109,316
64 Pacific Sage Partners, LLC 0.01% of their portfolio EDMONDS, WA 80,32080.3k $67.5k $67.5k 0.01% Added +4.5k +4,550
65 Cypress Wealth Services, LLC 0.01% of their portfolio PALM DESERT, CA 75,15075.2k $63.1k $63.1k 0.01% Unchanged
66 Three Magnolias Financial Advisors, LLC 0.04% of their portfolio WINSTON-SALEM, NC 75,00075.0k $63.0k $63.0k 0.04% Unchanged
67 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 69,38569.4k $58.3k $58.3k 0.00% Reduced -5.0k -5,012
68 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 68,96069.0k $57.1k $57.1k 0.00% Reduced -32.9k -32,880
69 Gotham Asset Management, LLC 0.00% of their portfolio NEW YORK, NY 64,99665.0k $54.6k $54.6k 0.00% New
70 NWAM LLC 0.00% of their portfolio MERCER ISLAND, WA 63,02663.0k $53.0k $53.0k 0.00% Unchanged
71 Baker Avenue Asset Management, LP 0.00% of their portfolio SAN FRANCISCO, CA 60,00060.0k $50.4k $50.4k 0.00% New
72 WOLVERINE TRADING, LLC 0.00% of their portfolio CHICAGO, IL 52,51352.5k $39.2k $39.2k 0.00% Added +12.0k +11,983
73 Pictet Asset Management Holding SA 0.00% of their portfolio CAROUGE, V8 51,11451.1k $42.3k $42.3k 0.00% Reduced -12.3k -12,293
74 WINTON GROUP Ltd 0.00% of their portfolio LONDON, X0 50,77750.8k $42.7k $42.7k 0.00% New
75 Arkadios Wealth Advisors 0.00% of their portfolio ATLANTA, GA 50,00050.0k $42.0k $42.0k 0.00% Unchanged
76 Clarity Capital Partners LLC 0.01% of their portfolio Newport Beach, CA 46,50046.5k $39.1k $39.1k 0.01% Added +5.5k +5,500
77 Soltis Investment Advisors LLC 0.00% of their portfolio ST. GEORGE, UT 46,38846.4k $39.0k $39.0k 0.00% Unchanged
78 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 44,35044.4k $36.7k $36.7k 0.00% Added +8.9k +8,898
79 Black Maple Capital Management LP 0.02% of their portfolio MILWAUKEE, WI 40,00040.0k $33.6k $33.6k 0.02% Unchanged
80 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 34,80034.8k $29.2k $29.2k 0.00% Unchanged
81 Welch Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 32,74032.7k $27.5k $27.5k 0.00% Unchanged
82 Vanguard Personalized Indexing Management, LLC 0.00% of their portfolio OAKLAND, CA 28,77028.8k $24.2k $24.2k 0.00% Reduced -7.2k -7,174
83 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 28,10428.1k $23.3k $23.3k 0.00% Added +16.7k +16,664
84 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 25,22225.2k $21.0k $21.0k 0.00% Added +862 +862
85 RFG Advisory, LLC 0.00% of their portfolio BIRMINGHAM, AL 25,20025.2k $21.2k $21.2k 0.00% Unchanged
86 TWO SIGMA SECURITIES, LLC 0.00% of their portfolio NEW YORK, NY 23,93523.9k $20.1k $20.1k 0.00% Reduced -13.4k -13,402
87 Western Wealth Management, LLC 0.00% of their portfolio GOLDEN, CO 23,56223.6k $19.8k $19.8k 0.00% Unchanged
88 DLK Investment Management, LLC 0.01% of their portfolio SOLANA BEACH, CA 23,50023.5k $19.7k $19.7k 0.01% Added +10.0k +10,000
89 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 22,67522.7k $18.8k $18.8k 0.00% Reduced -59.0k -59,000
90 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 22,59722.6k $19.0k $19.0k 0.00% Added +10.3k +10,255
91 Lifeworks Advisors, LLC 0.00% of their portfolio GRAND RAPIDS, MI 20,54420.5k $17.3k $17.3k 0.00% Reduced -2.9k -2,880
92 SHELL ASSET MANAGEMENT CO 0.00% of their portfolio THE HAGUE, P7 20,31820.3k $17.0k $17.0k 0.00% Unchanged
93 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 19,51819.5k $16.4k $16.4k 0.00% Added +7.5k +7,500
94 HORIZON KINETICS ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 18,30018.3k $15.4k $15.4k 0.00% Unchanged
95 Chancellor Financial Group WB LP 0.01% of their portfolio WILKES-BARRE, PA 17,23117.2k $14.5k $14.5k 0.01% Unchanged
96 Cresset Asset Management, LLC 0.00% of their portfolio Chicago, IL 15,01515.0k $12.6k $12.6k 0.00% Reduced -13.5k -13,472
97 Financial Advocates Investment Management 0.00% of their portfolio OLYMPIA, WA 14,93514.9k $12.5k $12.5k 0.00% Added +555 +555
98 Finward Bancorp 0.01% of their portfolio Munster, IN 13,48513.5k $11.3k $11.3k 0.01% Unchanged
99 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 13,00013.0k $11.0k $11.0k 0.00% Unchanged
100 Laidlaw Wealth Management LLC 0.03% of their portfolio NEW YORK CITY, NY 12,60012.6k $10.6k $10.6k 0.03% Reduced -2.5k -2,520