Why Sos, Canaan, Riot Blockchain, Marathon Patent, ZW Data Action Stocks Spiked Today

Bitcoin BTC/USD retouched the $50,000 levels in a 24-hour period leading up to Monday night, spurring a rally in the shares of multiple companies linked to cryptocurrencies.

The apex cryptocurrency touched a high of $50,127.51 on a trailing 24-hour period and was trading 6.59% higher at $49,387.99 at press-time.

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The companies that shot up on Monday in the regular and after-hours trading as a result include:

Sos Ltd SOS: Based out of China, this emergency rescue services company also uses blockchain technologies to provide marketing and cloud computing services to its partners. The company’s stock rose 58.6% in regular and after-hours trading. Earlier on Feb. 11, the company’s stock had shot up 81.03% after it said received cryptocurrency mining equipment ahead of schedule.

Sos shares surged 40.25% in the regular session to $6.69 and added another 18.39% gains in the after-hours.

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Canaan Inc CAN: The Bitcoin mining equipment manufacturer’s shares soared about 52.6% in the regular and after-hours session at $23.55. On Monday, Integrated Ventures Inc INTV said it had executed two sales contracts for purchases of 600 miners made by Canaan.

Riot Blockchain Inc RIOT: The Colorado-based Riot is focused on Bitcoin mining. The company’s stock rose 28.04% in the two sessions at $56.55.

Marathon Patent Group MARA: The Uniloc subsidiary is a digital asset company that mines cryptocurrencies. Shares of Marathon shot up 31.07% at $39.80.

Airnet Technology Inc ANTE: The Chinese in-flight entertainment and connectivity company secured 500 cryptocurrency miners in January. The company’s stock rose about 15% to $4.45.

ZW Data Action Technologies Inc CNET: The Beijing-based precision advertising and marketing services company announced a partnership with Bitspace to build a blockchain mining platform last month. ZW Data stock was up 10.16% to $3.39 at the end of the after-hours session.

Bit Digital Inc BTBT: A Bitcoin mining company, it removed its CEO Min Hu for non-participation in its mining operations in February. The company’s shares rallied nearly 20.3% in the regular and after-hours session to $17.90.

Posted In: BitcoinBlockchaincryptocurrency miningCryptocurrencyNewsPenny StocksSmall CapMarketsMoversTrading Ideas

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