Bitcoin‘s BTC/USD impressive rally, nearing $90,000, is propelling stocks associated with the cryptocurrency to notable pre-market gains on Tuesday. At the time of writing, Bitcoin was trading at $88,597.72.
According to Benzinga Pro, MARA Holdings Inc MARA saw a 3.56% rise, following an 18% jump on Monday. This increase came after the company announced a significant 372-megawatt expansion in its Ohio computing capacity. MARA Holdings acquired two operational data centers with 222 megawatts of interconnect-approved capacity and is developing a 150-megawatt greenfield facility in Findlay. The company is set to release its third-quarter earnings after the market closes on Tuesday.
Coinbase Global Inc COIN also experienced a 4.95% increase.
Meanwhile, Tesla Inc TSLA, led by Elon Musk, rose by 2.70%. In 2021, Tesla made headlines by investing $1.5 billion in Bitcoin, as disclosed in its 10-K filing with the SEC. This move aligns with a new investment policy aimed at diversifying and maximizing cash returns.
MicroStrategy Inc MSTR, self-described as the world’s first “Bitcoin Treasury company,” saw a 5.88% increase. The company’s shares hit a record high of $340, despite a slight decline in the Nasdaq 100 Index on Monday. After-hours trading saw shares rise by 5.31% to $358.06.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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