Bitcoin Hits $100K, Driving Surge in Crypto Stocks; MARA Raises $850M

Crypto stocks surged before the U.S. market open as Bitcoin (BTC) surpassed the $100,000 threshold, rising 4% in just 24 hours.

Semler Scientific (SMLR), a medical device company with 1,570 BTC in its holdings, led the gains, climbing over 7% and nearing $70 per share. Its Bitcoin holdings, tracked by bitcointreasuries.net, have played a significant role in the price boost.

MicroStrategy (MSTR), which holds 402,100 BTC, saw a 6.5% increase in its share price. As the largest Bitcoin holder among publicly traded companies, its performance continues to reflect growing confidence in Bitcoin as a corporate asset.

MARA Holdings (MARA), the second-largest Bitcoin holder, also gained more than 6%. The Bitcoin miner recently completed an $850 million offering of zero-coupon convertible senior notes, due in 2031. The funds will primarily be used to acquire more Bitcoin and repurchase existing notes due in 2026.

Other crypto miners followed suit. IREN (IREN) gained 4.6%, announcing a $300 million convertible senior note offering, with a $45 million additional option. The proceeds will be used for corporate purchases and share repurchase programs.

Hut 8, which rose almost 7%, introduced a $500 million at-the-market (ATM) offering and a $250 million stock repurchase program, aimed at driving growth and supporting shareholder returns, including acquiring Bitcoin as a reserve asset.

Coinbase (COIN), the leading cryptocurrency exchange, also saw a 4.4% increase in its stock price, benefiting from Bitcoin’s strong price performance.