Shares of Bitcoin mining companies are experiencing a rally following the disclosure of significant stakes by Jane Street, a leading global proprietary trading firm. The news, revealed through recent SEC filings, has triggered increased investor confidence in the cryptocurrency mining sector.
On October 23, 2025, Jane Street's filings showcased their beneficial ownership in several key Bitcoin mining entities. The firm reported a 5.0% stake in Hut 8 Mining Corp. (NASDAQ: HUT), amounting to 5,308,617 securities; a 5.4% ownership in Bitfarms Ltd. (NASDAQ: BITF), totaling 29,920,704 securities; and a 5.0% stake in Cipher Mining Inc. (NASDAQ: CIFR), representing 19,682,871 securities. These holdings reflect passive investment positions for trading purposes.
Following the filings, Cipher Mining's stock led the gains among publicly traded miners. Shortly after the market opened on Friday, October 24, Cipher's stock rose 12.7% to $19.44. Bitfarms followed with a 12.5% increase to $4.69, while Hut 8 advanced 8.6% to $44.14. Other Bitcoin-mining sector participants also moved higher, with IREN, HIVE, and Applied Digital each rising more than 6% in early trading. MARA and Riot Platforms (RIOT) posted smaller increases of 3.5% and 4%, respectively. At market close on Friday, Bitfarms (BITF) was up 10.68%, Cipher Mining (CIFR) 19.73% and Hut 8 (HUT) around 17.27%. 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's move signals growing confidence among traditional financial powerhouses regarding the long-term viability and profitability of Bitcoin mining. The firm's backing provides a capital injection and lends credibility to an industry viewed with skepticism by mainstream finance. Jane Street's involvement in cryptocurrencies has been growing. In February 2025, the firm acquired a 6% stake in Iris Energy, a Bitcoin mining company. Jane Street has also invested in exchanges like Coinbase and other firms with exposure to digital assets. Furthermore, Jane Street has been named as an authorized participant for all major Bitcoin ETF hopefuls, including BlackRock, Grayscale, and Fidelity.
The Bitcoin mining industry is evolving, with companies diversifying into artificial intelligence (AI) and high-performance computing (HPC). Mining firms are repurposing their high-power computing facilities and energy resources to support AI workloads. This convergence enables mining pools to diversify their income and reduce their reliance on volatile cryptocurrency markets. CleanSpark is constructing its first AI sites and is exploring additional locations in other U.S. states. Publicly traded Bitcoin miners raised over $4.6 billion through loans and convertible notes in late 2024 and early 2025 to fund their AI projects.
Bitcoin's price has experienced fluctuations, reaching a high of over $126,000 on October 6 before dropping to $104,000 recently. The decline was attributed to geopolitical tensions and market corrections. However, Bitcoin prices have since climbed back above $110,000. Bitcoin mining stocks have outperformed Bitcoin itself in 2025. Over the past year, Bitfarms has increased nearly 131%, and Hut 8 has risen around 211%. Bitcoin is up about 73% over a one-year period.
