Investing in fundamentally strong penny stocks is a proven strategy to derive outsized gains and benefit from game-changing returns over time. According to recent filings, billionaire investor George Soros bought a penny stock that operates in the crypto mining segment. Soros gained exposure to Cipher Mining (CIFR), a company focused on developing and operating industrial-scale data centers for Bitcoin (BTCUSD) mining. Cipher aims to gain traction in Bitcoin mining, data center construction, and as a hosting partner to the world’s largest high-performance computing companies.
According to a recent 13F filing, Soros Fund management opened a new position in Cipher Mining. The fund purchased 775,956 shares as of the end of the first quarter.
