Why Sos, Canaan, Ebang, Riot Blockchain, Marathon Patent Stocks Are Surging Today
Shares of several cryptocurrency-oriented companies are shooting up in the pre-market session on Tuesday.
The surge follows the Tesla Inc (NASDAQ:TSLA) investment-driven strength in the cryptocurrency market seen over the long weekend that saw Bitcoin (BTC) briefly cross the $50,000 mark late Monday. Bitcoin traded 3% higher at $49,114 at press time.
Sos Ltd (NYSE:SOS), which saw a significant surge over the last week as well, traded 16.9% higher at $8.70 in the pre-market session at press time. The Chinese company last Tuesday announced receiving 5,000 pieces of cryptocurrency mining rigs ahead of schedule and said the equipment "is expected to generate sufficient crypto hash power to allow us to promptly capture the rising cryptocurrency price.”
Stock of Canaan Inc (NASDAQ:CAN), a China-based Bitcoin mining hardware manufacturer, traded 14% higher at $14.87.
Riot Blockchain Inc (NASDAQ:RIOT) traded 11.2% higher at $54.80. The Colorado-based company announced last week it expected to achieve a hash rate capacity of about 1.06 Exahash per second with the deployment of its 2,000 S19 Pro Antminers.
Ebang International Holdings Inc (NASDAQ: EBON) shares traded 16.5% higher at $7.75.
HIVE Blockchain Technologies Ltd (OTC:HYBTF) shares last closed 21.7% higher at $3.14 in the otc market on Friday.
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