Crypto-Related Stocks Surge as Bitcoin Breaks $100K, MARA Holdings Closes $850M Offering
Crypto-related stocks saw a boost before the U.S. market opened, following Bitcoin’s (BTC) breakthrough above the $100,000 mark, with the cryptocurrency adding 4% in value over the past 24 hours.
Semler Scientific (SMLR), a medical device company that holds 1,570 BTC, led the gains, rising more than 7% and nearing $70 per share. According to bitcointreasuries.net, Semler’s holdings contribute to its upward momentum.
MicroStrategy (MSTR), a company dedicated to Bitcoin development and holding 402,100 BTC, saw its shares climb over 6.5%, reinforcing its position as the largest corporate holder of Bitcoin among publicly listed companies.
MARA Holdings (MARA), with the second-largest Bitcoin stash, also experienced a more than 6% increase. The Bitcoin mining company recently completed an $850 million offering of a zero-coupon convertible senior note, due in 2031. The raised funds will primarily be used for acquiring more Bitcoin and repurchasing existing notes due in 2026.
Other mining companies also saw gains. IREN (IREN) rose 4.6% after announcing a $300 million convertible senior note offering, with an additional $45 million option. The funds will be used for capped call transactions, prepaid forward share purchases, and general corporate activities.
Hut 8, which gained almost 7%, revealed a $500 million at-the-market (ATM) offering and a $250 million stock repurchase program to support its growth strategy and shareholder returns, including buying Bitcoin as a reserve asset.
Crypto exchange Coinbase (COIN) also saw a 4.4% increase in its share price.
