Crypto stocks gains as Bitcoin soars to three-month high

Cryptocurrency and blockchain-related companies experienced a surge in premarket trading today, propelled by Bitcoin’s rally, reaching a three-month high. The world’s leading cryptocurrency, Bitcoin, ascended by 1.74% to $30,524, while Ether followed suit with a 0.35% rise, reaching $1,669.9.

Bitcoin’s ascent marked its fifth consecutive day of gains. Crypto exchange giant Coinbase saw a 1.3% increase in its shares, while Bitfarms, a prominent blockchain farm operator, climbed by an impressive 3.9%.

Among the crypto miners, Riot Platforms and Marathon Digital experienced gains of 2.6% and 4.8% respectively. Additionally, U.S.-listed shares of Hut 8 Mining and Bit Digital also joined the rally, surging by 2.6% and 4.8%.

Software firm MicroStrategy, a notable buyer of Bitcoin, saw a 2.4% increase in its shares amid light trading, reflecting the growing interest in the cryptocurrency space. BTC mining machine manufacturer Canaan soared by 5.9%.

Investors also showed confidence in crypto-related ETFs, as ProShares Bitcoin Strategy ETF added 3.0% to its value. The cumulative effect of these gains has been driven by Bitcoin’s impressive year-to-date rise of approximately 84%.