Shares of MARA Holdings, a cryptocurrency mining company, soared 5.07% over the past 24 hours on Thursday, outperforming the broader market. The stock's rally was driven by the surge in cryptocurrency prices, particularly Bitcoin, which rose above $95,000 during the overnight trading session.
The rise in Bitcoin's price fueled a broader rally in crypto-related stocks, with shares of other companies such as Canaan Inc., MicroStrategy, Riot Platforms, Coinbase, and CleanSpark also posting gains ranging from 1% to over 6%.
MARA Holdings, as a leading provider of cryptocurrency mining services, benefited from the positive sentiment surrounding the crypto market. As Bitcoin and other digital currencies gain traction, the demand for mining operations is expected to increase, boding well for MARA Holdings' future prospects.
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