Why Sos, ZW Data Action, Airnet, Canaan, Riot Blockchain, Marathon Patent Stocks Are Surging Today

Stocks of several cryptocurrency-focused companies are extending gains over the previous day in early pre-market session at press-time on Wednesday.

The surge comes in tandem with the cryptocurrency market overnight, with Bitcoin (BTC) hitting a new all-time high of $51,335.23.

ZW Data Action Technologies Inc CNET shares are trading 60.23% higher at $5.56 at press time. The Beijing-based company announced a partnership with BitSpace to build a joint blockchain mining platform earlier this month.

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Airnet Technology Inc ANTE shares are trading nearly 56% higher at $7.72 In January, the Chinese digital media services provider announced giving Unistar Group Holdings Ltd a 19% stake in exchange for the delivery of 500 computer servers designed especially to mine cryptocurrencies.

Sos Ltd. SOS, another China-based company that has posted stellar gains this year as a cryptocurrency play, continues to extend gains, up 30% in the pre-market session at $15.40.

Canaan Inc CAN, a veteran China-based Bitcoin mining equipment manufacturer, is up 18.64% at $23.30 in line with the Bitcoin momentum. The Bitmain rival raised $90 million in its U.S. IPO in late 2019 after attempting to unsuccessfully go public in both China and Hong Kong. 

Riot Blockchain Inc RIOT traded 17.8% higher at $70.10 at press time. Riot is based in Colorado and is primarily focused on Bitcoin mining.

Marathon Patent Group Inc. MARA is up 12.9% at $49.17. Marathon is a Uniloc subsidiary based in Nevada and is also focused on Bitcoin mining.