The hedge fund Situational Awareness has acquired a 5.8% stake in the Bitcoin mining company Core Scientific.

Golden Finance reports that the hedge fund Situational Awareness, founded by 23-year-old AI influencer and former OpenAI researcher Leopold Aschenbrenner, has heavily invested in shares of Bitcoin mining company Core Scientific. According to regulatory filings submitted on Tuesday, the fund disclosed that it has purchased 17.7 million shares of this Bitcoin mining and data center operator, acquiring a 5.8% ownership stake. The fund increased its holdings in Core Scientific from July 18 to August 13. The fund stated in the document that it acquired these stocks because it believes their valuations are undervalued and represent an attractive investment opportunity. The fund added that it may increase or decrease its holdings in the future based on market conditions, Core Scientific's performance, or broader industry dynamics.