Duquesne Family Office Abandons Semiconductor Stocks for Bitcoin Mining

Stanley Druckenmiller's Duquesne Family Office has made significant changes to its investment strategy, shifting away from traditional semiconductor stocks and towards Bitcoin mining and associated AI infrastructure. The billionaire investor's Q2 2026 13F filing shows that the firm has shed all holdings in Intel and Micron Technology, which previously accounted for a substantial portion of the portfolio.

In their place, Duquesne has made large investments in four publicly traded Bitcoin mining companies: Bitdeer Technologies, Riot Platforms, Hut 8, and IREN. The total assets under management have surged to approximately $5.21 billion across 95 distinct holdings, with the top ten positions constituting 45.83% of the overall portfolio.

Druckenmiller has frequently touted AI as a revolutionary technology, and the divestment of semiconductor stocks in favor of miners suggests he perceives greater risk-reward opportunities in the resource-intensive computational layer that facilitates both AI training and Bitcoin mining operations.