Stock traders reacted fast. Cipher Mining climbed roughly 13% on the day of the filings, while other miners also saw gains as investors priced in the news.
Shares jumped because market participants often view big, visible positions by large trading firms as a signal that the asset is worth a closer look.
Volume in the miners’ names increased as well, with many more shares changing hands than on an average trading day.
Reports show the firm’s crypto trading grew significantly in recent years, with figures around $110 billion in trading activity in 2023 mentioned in industry coverage.
The firm has also acted as an authorized participant for some spot bitcoin ETF processes, which means it is involved in the markets that connect funds to underlying bitcoin exposure.
On the other hand, mining remains tied to the price of bitcoin, power costs, and regulatory decisions about energy use and hosting. Reports have warned that some market watchers think the positions may be part of broader trading strategies rather than simple long-term bets.
Analysts and market commentators said the filings are worth watching, but they also advised caution. Mining stocks are volatile; they can move sharply when bitcoin moves, when energy deals are announced, or when hardware shifts occur.
Featured image from Vecteezy, chart from TradingView
