Crypto Stocks Surge as Bitcoin Crosses $100K, MARA Completes $850M Offering
Crypto-related stocks saw significant gains ahead of the U.S. market open, following Bitcoin’s (BTC) rise above the $100,000 mark, adding 4% in just 24 hours.
Semler Scientific (SMLR), a medical device company with 1,570 BTC in its treasury, led the charge, gaining over 7% and approaching the $70 mark. The company’s Bitcoin holdings have been a key factor in its stock performance, as reported by bitcointreasuries.net.
MicroStrategy (MSTR), which holds 402,100 BTC, rose more than 6.5%. As the largest publicly traded holder of Bitcoin, MicroStrategy continues to benefit from the cryptocurrency’s impressive growth.
MARA Holdings (MARA), holding the second-largest Bitcoin reserve, also saw a boost of more than 6%. The Bitcoin mining company recently completed an $850 million offering of zero-coupon convertible senior notes, due in 2031. The funds raised will be primarily used for Bitcoin acquisitions and repurchasing notes set to mature in 2026.
Other mining companies saw positive movements as well. IREN (IREN) increased by 4.6%, following the announcement of a $300 million convertible senior note offering, with an additional $45 million option to fund corporate activities, including share repurchases.
Hut 8, which gained almost 7%, revealed a $500 million at-the-market (ATM) offering and a $250 million stock repurchase program aimed at fueling growth and increasing shareholder value, including the purchase of Bitcoin as a reserve asset.
Coinbase (COIN), the top cryptocurrency exchange, also saw a 4.4% rise in its stock price, benefiting from Bitcoin’s continued rally.
