Stock Track | Bitfarms Ltd. Soars 5.33% as Bitcoin Crosses $100,000, Lifting Crypto Stocks

Stock Track12-11

Shares of Bitfarms Ltd. (BITF), a cryptocurrency mining company, soared 5.33% on Wednesday as the price of Bitcoin broke above $100,000 and lifted crypto-related stocks.

Bitcoin, the world's largest cryptocurrency, rose 4% to $100,349 in early trading according to CoinDesk data. This surge in Bitcoin's value drove significant gains for crypto stocks, with Bitfarms and other mining companies benefiting from the increased profitability of their operations.

Other crypto stocks also rallied on Wednesday, with Riot Platforms rising 8.4%, MARA Holdings up 7.5%, Canaan gaining 7%, MicroStrategy increasing 6.5%, and Coinbase advancing 6%. The bullish sentiment in the crypto market fueled a broad-based rally in digital asset-related equities.

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