Bitcoin miners build on gains after Jane Street discloses stakes

Shares of crypto miners rallied on Friday, with Bitfarms, Cipher Mining and Hut 8 extending gains after trading company Jane Street disclosed sizable positions in all three Bitcoin mining companies.

Filings submitted to the US Securities and Exchange Commission on Thursday show that Jane Street’s trading affiliates own roughly 5.4% of Bitfarms, 5% of Cipher Mining and 5% of Hut 8, representing passive trading positions rather than activist holdings.

Following the news, the stocks rallied 8% to 13% on Thursday, and continued to make gains on Friday.

At market close on Friday, Bitfarms (BITF) was up 10.68%, Cipher Mining (CIFR) 19.73% and Hut 8 (HUT) around 17.27%, according to data from Yahoo Finance.

Other Bitcoin mining stocks also posted gains on Friday, including American Bitcoin Corp., (+11.29%), IREN Limited (+12.60%) and Hive Digital Technologies (+17.77%).

Jane Street, a leading proprietary trading and market-making firm active in equities and digital assets, first disclosed exposure to Bitcoin miners in 2023 through its investment in Marathon Digital (MARA) holdings. 

The disclosure from Jane Street comes after Google announced it had acquired a 5.4% stake in Cipher Mining on Sept. 25.

Bitcoin mining companies outpace Bitcoin in 2025

Bitcoin mining, the process of using specialized computers to solve complex mathematical problems to verify transactions and introduce new Bitcoin into circulation, is pivotal to keeping the network operational and secure.

While solo Bitcoin miners occasionally get lucky and mine a block, the industry has become increasingly dominated by Bitcoin mining companies, most of whom have seen significant growth in 2025.

Over the past year, many Bitcoin mining companies have outpaced Bitcoin itself.

According to data from Yahoo Finance, Bitfarms has increased nearly 131%, and Hut 8 has risen around 211% over the past 12 months. At the time of writing, Bitcoin is up about 73% over a one-year period.

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