Cipher, Bitfarms Lead Bitcoin Miners Rally After Jane Street Discloses Stakes

Shares of Cipher Mining (NASDAQ: CIFR), Bitfarms, and Hut 8 (NASDAQ: HUT) jumped on Thursday after trading firm Jane Street revealed significant ownership stakes in the three Bitcoin miners.

According to Schedule 13G filings submitted to the SEC on Thursday, a group of Jane Street’s trading subsidiaries collectively holds about 5% of Hut 8, 5.4% of Bitfarms, and 5% of Cipher Mining. The disclosures indicate passive ownership positions for trading rather than activist stakes.

Following the filings, Cipher’s stock rose 12.7% to $19.44 shortly after the market opened on Friday, leading the gains among publicly traded miners. Bitfarms followed with a 12.5% increase to $4.69, while Hut 8 advanced 8.6% to $44.14.

The broader Bitcoin-mining sector also moved higher, with IREN, HIVE, and Applied Digital each up more than 6% in early trading. MARA and Riot Platforms (RIOT) posted smaller increases of 3.5% and 4%, respectively.

Jane Street—a major market-making and proprietary-trading firm known for its high-frequency strategies across equities and digital assets—accumulated exposure to the Bitcoin-mining sector early in 2024 through holdings in MARA. The latest filings extend its footprint across a broader set of public miners.