Founders Fund Reduces Stake in Bitmine, Shifting Portfolio Amid Market Volatility

Venture capital firm Founders Fund has significantly reduced its stake in Bitmine, selling half its holdings and now owning only 2.5 million shares. This move, revealed in a recent SEC filing, signals a strategic portfolio adjustment rather than an exit from the cryptocurrency sector entirely. The reduction brings Founders Fund’s ownership below the 5% reporting threshold, easing disclosure requirements for passive investors. While this sale reflects the current market climate of volatility and shifting dynamics, it indicates continued belief in Bitmine’s long-term potential.