Shares of cryptocurrency miners experienced a significant rally on Friday, with Bitfarms, Cipher Mining, and Hut 8 extending their gains after trading firm Jane Street revealed substantial positions in all three Bitcoin mining companies.
Filings submitted to the US Securities and Exchange Commission on Thursday indicate that Jane Street’s trading affiliates collectively own approximately 5.4% of Bitfarms, 5% of Cipher Mining, and 5% of Hut 8. These holdings are described as passive trading positions, suggesting they do not represent activist intentions.
Following this disclosure, the stocks saw an initial surge of 8% to 13% on Thursday, and this upward momentum continued into Friday's trading session.
By the market close on Friday, Bitfarms (BITF) had climbed 10.68%, Cipher Mining (CIFR) was up by 19.73%, and Hut 8 (HUT) had risen approximately 17.27%, according to data compiled by Yahoo Finance.
Other Bitcoin mining stocks also recorded gains on Friday. These included American Bitcoin Corp., which rose 11.29%, IREN Limited, up 12.60%, and Hive Digital Technologies, which saw a 17.77% increase.
Jane Street, recognized as a leading proprietary trading and market-making firm active in both equities and digital assets, first disclosed its involvement with Bitcoin miners in 2023 through an investment in Marathon Digital (MARA) holdings.
This latest disclosure from Jane Street comes shortly after Google announced its acquisition of a 5.4% stake in Cipher Mining on September 25, a move reportedly linked to an artificial intelligence deal.
Bitcoin Mining Companies Outpace Bitcoin in 2025 Performance
Bitcoin mining, the fundamental process involving specialized computers that solve complex mathematical problems to validate transactions and introduce new Bitcoin into circulation, plays a crucial role in maintaining the network's operational integrity and security.
While individual Bitcoin miners can occasionally achieve success by mining a block, the industry has increasingly been dominated by large Bitcoin mining companies. Many of these companies have experienced substantial growth throughout 2025.
In the past year, a significant number of Bitcoin mining companies have demonstrated performance exceeding that of Bitcoin itself.
Data from Yahoo Finance indicates that over the last 12 months, Bitfarms has increased by nearly 131%, and Hut 8 has seen a rise of approximately 211%. In comparison, Bitcoin's price has increased by about 73% over the same one-year period.