Bitcoin miners build on gains after Jane Street discloses stakes

Shares of leading Bitcoin mining companies, including Bitfarms, Cipher Mining, and Hut 8, extended their rally after trading firm Jane Street disclosed sizable, passive stakes in them via filings with the US Securities and Exchange Commission on Thursday. Jane Street's affiliates now own roughly 5.4% of Bitfarms, 5% of Cipher Mining, and 5% of Hut 8. Following the news, the stocks saw significant gains on Thursday and Friday, with Cipher Mining up nearly 20% by Friday's close. Other mining stocks also posted gains. Jane Street first disclosed exposure to Bitcoin miners in 2023 with an investment in Marathon Digital. This disclosure follows Google's announcement of acquiring a 5.4% stake in Cipher Mining in September. The article also notes that publicly traded Bitcoin mining companies have significantly outpaced Bitcoin's own gains over the past year, with Bitfarms up nearly 131% and Hut 8 up around 211%, compared to Bitcoin's 73% rise.

(Source：Cointelegraph)