Vault-13

BITFARMS LTD BITF

COM · Common Stock · CUSIP 09173B107 · ISIN CA09173B1076

171 institutional holders +40 vs Q2 2025
178,301,542178.3m shares reported held*
$503.5mreported value*
59 new 50 added 31 reduced 16 sold out net bought ≈ $198.4m (+70.4m 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 ($2.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $2.82. Options: 24 managers hold calls ($66.7m notional), 10 hold puts ($39.9m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 88Q4 22: 91Q1 23: 77Q2 23: 86Q3 23: 95Q4 23: 120Q1 24: 133Q2 24: 137Q3 24: 146Q4 24: 148Q1 25: 147Q2 25: 131Q3 25: 171171Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025171

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 69 bought or addedQ4 23: 34 cut or sold outQ1 24: 80 bought or addedQ1 24: 42 cut or sold outQ1 24Q2 24: 71 bought or addedQ2 24: 56 cut or sold outQ3 24: 58 bought or addedQ3 24: 66 cut or sold outQ3 24Q4 24: 77 bought or addedQ4 24: 60 cut or sold outQ1 25: 72 bought or addedQ1 25: 62 cut or sold outQ1 25Q2 25: 55 bought or addedQ2 25: 65 cut or sold outQ3 25: 109 bought or addedQ3 25: 47 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20236934
Q1 20248042
Q2 20247156
Q3 20245866
Q4 20247760
Q1 20257262
Q2 20255565
Q3 202510947

Calls vs puts

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

CallsPuts
$0$20m$40m$60m$80mQ4 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 0.82Q3 25 calls: $66.7mQ3 25 puts: $39.9mQ3 25P/C 0.60
Numbers
QuarterCallsPutsP/C
Q4 2024$21.9m$7.2m0.33
Q1 2025$4.0m$2.5m0.61
Q2 2025$3.4m$2.8m0.82
Q3 2025$66.7m$39.9m0.60

Biggest buyers

JANE STREET GROUP, LLC Added +13,381,207+13.4m
CITADEL ADVISORS LLC Added +10,463,894+10.5m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +9,681,857+9.7m
THAMES CAPITAL MANAGEMENT LLC New +7,033,331+7.0m
Aurelius Capital Management, LP New +6,737,261+6.7m
CastleKnight Management LP New +6,685,400+6.7m
Point72 Asset Management, L.P. New +6,467,427+6.5m
TWO SIGMA INVESTMENTS, LP New +4,390,577+4.4m
Azora Capital LP New +4,094,118+4.1m
MILLENNIUM MANAGEMENT LLC Added +3,806,882+3.8m

Biggest sellers

VAN ECK ASSOCIATES CORP Reduced -10,990,657-11.0m
ROYAL BANK OF CANADA Reduced -5,155,813-5.2m
Vident Advisory, LLC Reduced -4,695,120-4.7m
MMCAP International Inc. SPC Reduced -3,806,800-3.8m
Galaxy Group Investments LLC Reduced -2,200,000-2.2m
Galaxy Digital Capital Management GP LLC Reduced -1,325,821-1.3m
BIT Capital GmbH Reduced -913,205-913.2k
UBS Group AG Reduced -804,167-804.2k
GEODE CAPITAL MANAGEMENT, LLC Reduced -515,801-515.8k
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. Reduced -481,076-481.1k

Biggest calls

CITADEL ADVISORS LLC Added $12.4m4.4m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $11.7m4.2m shares
SIMPLEX TRADING, LLC Added $7.1m2.5m shares
Brevan Howard Capital Management LP New $7.0m2.5m shares
GROUP ONE TRADING LLC Added $5.7m2.0m shares
OnyxPoint Global Management LP New $3.5m1.3m shares
Graham Capital Management, L.P. New $3.3m1.2m shares
JANE STREET GROUP, LLC Added $2.8m974.8k shares
IMC-Chicago, LLC Added $2.7m965.9k shares
Parallax Volatility Advisers, L.P. Added $2.4m855.9k shares

Biggest puts

CITADEL ADVISORS LLC Added $9.9m3.5m shares
SIMPLEX TRADING, LLC Added $8.3m2.9m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $8.1m2.9m shares
JANE STREET GROUP, LLC New $6.9m2.4m shares
GROUP ONE TRADING LLC Added $3.1m1.1m shares
Parallax Volatility Advisers, L.P. Added $1.9m691.1k shares
IMC-Chicago, LLC New $1.4m497.7k shares
BANK OF MONTREAL /CAN/ New $379.7k134.5k shares
Walleye Trading LLC New $7.3k2.6k shares
HighTower Advisors, LLC New $6.4k13.0k 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, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 14,373,52214.4m $40.5m $40.5m 0.01% Added +1.1m +1,138,549
2 JANE STREET GROUP, LLC 0.04% of their portfolio NEW YORK, NY 13,480,31013.5m $38.1m $38.1m 0.04% Added +13.4m +13,381,207
3 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio BALA CYNWYD, PA 12,382,19112.4m $34.9m $34.9m 0.05% Added +9.7m +9,681,857
4 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 10,957,24711.0m $30.9m $30.9m 0.02% Added +10.5m +10,463,894
5 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.03% of their portfolio CAUSEWAY BAY, K3 7,060,3897.1m $19.9m $19.9m 0.03% Added +1.9m +1,898,490
6 THAMES CAPITAL MANAGEMENT LLC 2.86% of their portfolio Roseland, NJ 7,033,3317.0m $19.8m $19.8m 2.86% New
7 Aurelius Capital Management, LP 34.42% of their portfolio New York, NY 6,737,2616.7m $19.0m $19.0m 34.42% New
8 CastleKnight Management LP 1.01% of their portfolio New York, NY 6,685,4006.7m $18.9m $18.9m 1.01% New
9 Vident Advisory, LLC 0.18% of their portfolio Alpharetta, GA 6,668,9866.7m $18.8m $18.8m 0.18% Reduced -4.7m -4,695,120
10 Point72 Asset Management, L.P. 0.04% of their portfolio STAMFORD, CT 6,467,4276.5m $18.2m $18.2m 0.04% New
11 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 6,316,7236.3m $17.8m $17.8m 0.00% Reduced -5.2m -5,155,813
12 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 5,518,2865.5m $15.6m $15.6m 0.00% Added +1.6m +1,636,167
13 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 4,390,5774.4m $12.4m $12.4m 0.02% New
14 Azora Capital LP 0.53% of their portfolio MIAMI, FL 4,094,1184.1m $11.5m $11.5m 0.53% New
15 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 4,082,1264.1m $11.5m $11.5m 0.01% Added +3.8m +3,806,882
16 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 4,081,9214.1m $11.5m $11.5m 0.00% Added +1.4m +1,415,793
17 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 3,650,4233.7m $10.3m $10.3m 0.00% Added +3.3m +3,288,428
18 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 3,614,5983.6m $10.2m $10.2m 0.00% Reduced -34.9k -34,948
19 BIT Capital GmbH 0.44% of their portfolio BERLIN, 2M 3,435,8443.4m $9.7m $9.7m 0.44% Reduced -913.2k -913,205
20 GROUP ONE TRADING LLC 0.28% of their portfolio CHICAGO, IL 3,306,8353.3m $9.3m $9.3m 0.28% Added +3.3m +3,301,573
21 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,991,2553.0m $8.4m $8.4m 0.00% Reduced -804.2k -804,167
22 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 2,933,2012.9m $8.3m $8.3m 0.00% Reduced -515.8k -515,801
23 MMCAP International Inc. SPC 0.92% of their portfolio GRAND CAYMAN, E9 2,795,2982.8m $7.9m $7.9m 0.92% Reduced -3.8m -3,806,800
24 CONTINENTAL GENERAL INSURANCE CO 1.47% of their portfolio Austin, TX 2,695,2332.7m $7.6m $7.6m 1.47% Unchanged
25 Weiss Asset Management LP 0.09% of their portfolio BOSTON, MA 2,161,2382.2m $6.1m $6.1m 0.09% Added +1.9m +1,947,488
26 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 2,068,5002.1m $5.8m $5.8m 0.00% New
27 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 1,892,7831.9m $5.3m $5.3m 0.01% New
28 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,851,0331.9m $5.2m $5.2m 0.00% Added +949.0k +948,980
29 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,833,8931.8m $5.2m $5.2m 0.00% Reduced -345.5k -345,500
30 Galaxy Digital Capital Management GP LLC 4.69% of their portfolio NEW YORK, NY 1,704,5291.7m $4.8m $4.8m 4.69% Reduced -1.3m -1,325,821
31 SIMPLEX TRADING, LLC 0.09% of their portfolio CHICAGO, IL 1,441,9971.4m $4.1m $4.1m 0.09% Added +900.5k +900,529
32 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 1,246,5121.2m $3.5m $3.5m 0.01% New
33 Swiss National Bank 0.00% of their portfolio ZURICH, V8 1,032,8001.0m $2.9m $2.9m 0.00% Added +202.7k +202,700
34 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 932,231932.2k $2.6m $2.6m 0.00% Added +148.9k +148,925
35 ExodusPoint Capital Management, LP 0.04% of their portfolio NEW YORK, NY 928,094928.1k $2.6m $2.6m 0.04% New
36 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 832,985833.0k $2.3m $2.3m 0.00% New
37 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 742,435742.4k $2.1m $2.1m 0.00% Reduced -47.3k -47,265
38 Galaxy Group Investments LLC 0.19% of their portfolio NEW YORK, NY 700,000700.0k $2.0m $2.0m 0.19% Reduced -2.2m -2,200,000
39 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 577,316577.3k $1.6m $1.6m 0.00% Added +576.6k +576,620
40 TD Asset Management Inc 0.00% of their portfolio Toronto, A6 576,623576.6k $1.6m $1.6m 0.00% Added +38.3k +38,309
41 Parallax Volatility Advisers, L.P. 0.05% of their portfolio San Francisco, CA 570,000570.0k $1.6m $1.6m 0.05% Added +480.0k +480,000
42 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.10% of their portfolio Englewood, NJ 549,031549.0k $1.5m $1.5m 0.10% New
43 Baader Bank Aktiengesellschaft 0.12% of their portfolio Unterschleissheim, 2M 512,697512.7k $1.4m $1.4m 0.12% Added +369.2k +369,192
44 Legal & General Group Plc 0.00% of their portfolio London, X0 478,372478.4k $1.4m $1.4m 0.00% Added +107.5k +107,503
45 Caption Management, LLC 0.08% of their portfolio OKLAHOMA CITY, OK 469,782469.8k $1.3m $1.3m 0.08% New
46 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 468,873468.9k $1.3m $1.3m 0.00% Added +161.6k +161,608
47 Mariner, LLC 0.00% of their portfolio Overland Park, KS 462,600462.6k $1.3m $1.3m 0.00% Reduced -109.1k -109,135
48 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 457,915457.9k $1.3m $1.3m 0.00% Added +357.5k +357,528
49 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 418,399418.4k $1.2m $1.2m 0.00% Added +274.4k +274,421
50 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 400,240400.2k $1.1m $1.1m 0.00% Added +500 +500
51 Alight Capital Management LP 0.27% of their portfolio New York, NY 400,000400.0k $1.1m $1.1m 0.27% New
52 Arete Wealth Advisors, LLC 0.06% of their portfolio CHICAGO, IL 365,191365.2k $1.0m $1.0m 0.06% New
53 XTX Topco Ltd 0.05% of their portfolio LONDON, X0 363,383363.4k $1.0m $1.0m 0.05% New
54 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 354,506354.5k $994.4k $994.4k 0.00% Added +88.0k +88,008
55 Chicago Partners Investment Group LLC 0.04% of their portfolio CHICAGO, IL 311,198311.2k $1.3m $1.3m 0.04% Added +119.4k +119,386
56 MACKENZIE FINANCIAL CORP 0.00% of their portfolio TORONTO ONTARIO, A6 287,706287.7k $812.3k $812.3k 0.00% Added +43.2k +43,181
57 Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio TOKYO, M0 287,566287.6k $810.9k $810.9k 0.00% Added +9.7k +9,713
58 INTACT INVESTMENT MANAGEMENT INC. 0.02% of their portfolio MONTREAL, A8 272,100272.1k $768.5k $768.5k 0.02% New
59 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 267,846267.8k $929.4k $929.4k 0.00% Added +16.7k +16,724
60 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.01% of their portfolio Madrid, U3 234,129234.1k $659.0k $659.0k 0.01% Reduced -481.1k -481,076
61 Gladstone Institutional Advisory LLC 0.03% of their portfolio Bedminster, NJ 233,400233.4k $658.2k $658.2k 0.03% Added +111.7k +111,700
62 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 201,399201.4k $568.0k $568.0k 0.00% Added +26.0k +25,952
63 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 199,699199.7k $563.8k $563.8k 0.00% Added +177.0k +177,024
64 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 197,832197.8k $558.9k $558.9k 0.00% Added +20.3k +20,300
65 Optiver Holding B.V. 0.01% of their portfolio AMSTERDAM, P7 187,644187.6k $529.2k $529.2k 0.01% New
66 IMC-Chicago, LLC 0.01% of their portfolio CHICAGO, IL 176,347176.3k $497.3k $497.3k 0.01% New
67 Compagnie Lombard Odier SCmA 0.01% of their portfolio 1204 GENEVA, V8 175,000175.0k $494.3k $494.3k 0.01% Unchanged
68 PRELUDE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 150,000150.0k $423.0k $423.0k 0.03% New
69 INSIGNEO ADVISORY SERVICES, LLC 0.03% of their portfolio MIAMI, FL 135,927135.9k $383.3k $383.3k 0.03% Unchanged
70 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 110,303110.3k $311.5k $311.5k 0.00% Added +41.3k +41,343
71 BOOTHBAY FUND MANAGEMENT, LLC 0.01% of their portfolio NEW YORK, NY 105,055105.1k $296.3k $296.3k 0.01% Unchanged
72 272 Capital LP 0.75% of their portfolio DALLAS, TX 105,055105.1k $296.3k $296.3k 0.75% Unchanged
73 Harvest Portfolios Group Inc. 0.01% of their portfolio Oakville, A6 103,834103.8k $293.2k $293.2k 0.01% Reduced -42.4k -42,369
74 United Advisor Group, LLC 0.04% of their portfolio CINCINNATI, OH 100,000100.0k $282.0k $282.0k 0.04% New
75 Leonteq Securities AG 0.01% of their portfolio ZURICH, V8 94,71394.7k $267.1k $267.1k 0.01% Added +7.1k +7,143
76 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 92,17292.2k $260.0k $260.0k 0.00% Reduced -11.0m -10,990,657
77 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 89,49689.5k $252.7k $252.7k 0.00% Added +2.1k +2,053
78 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 85,74785.7k $241.8k $241.8k 0.00% Added +167 +167
79 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 83,18683.2k $235.0k $235.0k 0.00% Added +58.0k +57,964
80 Pacific Sage Partners, LLC 0.04% of their portfolio EDMONDS, WA 81,57081.6k $230.0k $230.0k 0.04% Added +1.2k +1,250
81 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 79,35679.4k $223.8k $223.8k 0.00% Added +10.0k +9,971
82 SBI Securities Co., Ltd. 0.01% of their portfolio TOKYO, M0 77,86877.9k $219.6k $219.6k 0.01% Reduced -108.9k -108,946
83 CI INVESTMENTS INC. 0.00% of their portfolio TORONTO, Z4 77,18777.2k $218.0k $218.0k 0.00% Reduced -84.0k -83,974
84 Pictet Asset Management Holding SA 0.00% of their portfolio CAROUGE, V8 73,37373.4k $207.2k $207.2k 0.00% Added +22.3k +22,259
85 CreativeOne Wealth, LLC 0.00% of their portfolio OVERLAND PARK, KS 70,39670.4k $198.5k $198.5k 0.00% New
86 NWAM LLC 0.01% of their portfolio MERCER ISLAND, WA 63,02663.0k $177.7k $177.7k 0.01% Unchanged
87 Phoenix Financial Ltd. 0.00% of their portfolio Givatayim, L3 61,86461.9k $174.6k $174.6k 0.00% Reduced -23.1k -23,068
88 Keebeck Wealth Management 0.02% of their portfolio Chicago, IL 55,00055.0k $155.1k $155.1k 0.02% Reduced -167.2k -167,250
89 TWO SIGMA SECURITIES, LLC 0.02% of their portfolio NEW YORK, NY 54,44254.4k $153.5k $153.5k 0.02% Added +30.5k +30,507
90 OMERS ADMINISTRATION Corp 0.00% of their portfolio TORONTO, A6 53,30053.3k $150.5k $150.5k 0.00% New
91 Caitong International Asset Management Co., Ltd 0.10% of their portfolio HONG KONG, K3 53,21253.2k $150.1k $150.1k 0.10% Added +53.2k +53,211
92 Archford Capital Strategies, LLC 0.02% of their portfolio SWANSEA, IL 50,00050.0k $141.0k $141.0k 0.02% New
93 Arkadios Wealth Advisors 0.00% of their portfolio ATLANTA, GA 50,00050.0k $141.0k $141.0k 0.00% Unchanged
94 Soltis Investment Advisors LLC 0.01% of their portfolio ST. GEORGE, UT 46,38846.4k $130.8k $130.8k 0.01% Unchanged
95 Clare Market Investments LLC 0.03% of their portfolio DALLAS, TX 45,50045.5k $128.3k $128.3k 0.03% New
96 Baker Avenue Asset Management, LP 0.00% of their portfolio SAN FRANCISCO, CA 40,50040.5k $114.2k $114.2k 0.00% Reduced -19.5k -19,500
97 Walleye Trading LLC 0.00% of their portfolio NEW YORK, NY 40,44640.4k $114.1k $114.1k 0.00% New
98 Polymer Capital Management (HK) LTD 0.02% of their portfolio HONG KONG, K3 39,90039.9k $112.5k $112.5k 0.02% New
99 Vanguard Personalized Indexing Management, LLC 0.00% of their portfolio OAKLAND, CA 39,38939.4k $111.1k $111.1k 0.00% Added +10.6k +10,619
100 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 38,46938.5k $108.5k $108.5k 0.00% Added +15.9k +15,872