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 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 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 CAN, a China-based Bitcoin mining hardware manufacturer, traded 14% higher at $14.87.

Riot Blockchain Inc 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.

See also: How to Buy Riot Blockchain Inc. (RIOT) Stock

Ebang International Holdings Inc EBON shares traded 16.5% higher at $7.75.

Bit Digital Inc BTBT is up 7% at $26 at press time, amid overall momentum. Marathon Patent Group Inc MARA traded 6.37% higher at $40.91.

HIVE Blockchain Technologies Ltd HYBTF shares last closed 21.7% higher at $3.14 in the otc market on Friday.