Early trading hours show significant market activity as shares of crypto mining companies extend their bullish run, while Tesla’s stock price benefits from news of Elon Musk’s recent stock acquisition.
Bitfarms (BITF) is experiencing a notable surge, climbing 15% in pre-market trading to reach $2.55. This jump builds upon a strong week, resulting in a 75% increase in value. Other firms focused on AI-driven mining operations also exhibit impressive gains; IREN (IREN) is up 3% before the market opens, adding to its already substantial year-to-date growth of over 230%. Hive Blockchain (HIVE) also saw a pre-market rise of 5%, further enhancing its impressive 40% gain over the last month.
On the other hand, KindlyMD (NAKA), identified as a company holding Bitcoin, is facing substantial losses. Owning 5,765 BTC, the stock is down 50% in pre-market trading and 96% below its record peak.
Tesla (TSLA) stock is valued at $420 in pre-market activity, representing a 6% gain from Friday’s closing price following a 7% rise the previous week. A recent filing with the SEC revealed that Elon Musk has purchased nearly 2.6 million shares.
Meanwhile, CapitalB (ALCPB) has increased its Bitcoin holdings, acquiring 48 BTC, bringing its total to 2,249 BTC, which has led to shares climbing 15% in European markets.