Jane Street Takes 5% Stake In BTC Miner Cipher Mining That Eric Jackson Bet On

Core Viewpoint - Cipher Mining Inc. (NASDAQ:CIFR) has gained significant attention following Jane Street Group's disclosure of a 5% passive stake in the company, which has sparked discussions about its valuation and potential as an AI utility powerhouse [1][2][3]. Group 1: Investment Activity - Jane Street Group disclosed a 5% passive stake in Cipher Mining, amounting to 19.68 million shares, as per an SEC filing dated October 24 [1]. - Eric Jackson and Daniel Newman are advocating for CIFR, with Newman labeling it as his "1 AI utility play" due to its strong financial position, including a $5 billion market cap and $1.3 billion in cash with zero debt [3]. - The stock price of CIFR surged after the announcement, closing at $17.26 per share and rising 8.49% in after-hours trading [7]. Group 2: Market Sentiment and Criticism - Rittenhouse Research has criticized Jane Street's investment in CIFR, suggesting it may be part of a "delta-neutral options strategy" rather than a long-term investment [3]. - High-profile skeptics, including short-seller Jim Chanos, have raised concerns about the assumptions underlying CIFR's valuation and the promotion of the stock by competitors [5][6]. - CIFR has shown impressive stock performance, advancing 257.25% year-to-date and 208.68% over the year, indicating strong market interest despite the skepticism [7].