Crypto Stocks in the U.S. Surge Ahead of Market Open as Bitcoin Hits $100K

Crypto Stocks Surge as Bitcoin Breaks $100K, MARA Holdings Raises $850M

Crypto-related stocks experienced a notable jump before the U.S. market opened, following Bitcoin’s (BTC) breakthrough of the $100,000 mark, with the cryptocurrency gaining 4% in just 24 hours.

Semler Scientific (SMLR), which holds 1,570 BTC, led the charge with a 7% gain, approaching $70 per share. This surge reflects the increasing value of its Bitcoin holdings, according to data from bitcointreasuries.net.

MicroStrategy (MSTR), which holds 402,100 BTC, saw its stock rise over 6.5%. As the company with the largest Bitcoin reserve among publicly traded firms, its rise reflects continued confidence in Bitcoin as a corporate asset.

MARA Holdings (MARA), with the second-largest Bitcoin stash, also saw its stock increase by more than 6%. The Bitcoin mining firm completed an $850 million offering of zero-coupon convertible senior notes, due in 2031. The funds from this offering will be primarily used to acquire additional Bitcoin and repurchase existing notes due in 2026.

Other mining companies followed suit. IREN (IREN) gained 4.6% after announcing a $300 million convertible senior note offering, with an additional $45 million option, to fund corporate activities and share repurchase programs.

Hut 8, up nearly 7%, unveiled a $500 million at-the-market (ATM) offering and a $250 million stock repurchase plan aimed at boosting growth and returning value to shareholders, including Bitcoin acquisition as a reserve asset.

Crypto exchange Coinbase (COIN) also saw a 4.4% increase in its stock price, benefiting from the bullish market sentiment surrounding Bitcoin.