BTC Digital and BitMine Shares Surge Amidst Crypto Rally
BTC Digital Ltd. (NASDAQ:BTCT) and BitMine Immersion Technologies Inc. (NYSE:BMNR) shares are trending after their respective stocks surged in late trading sessions on Wednesday.
BTCT stock saw a massive gain of over 111% to $1.77 after the bell, following an intraday increase of 79.97% to $0.84. On the other hand, BMNR shares rose by 6.47% to $21.55 in extended trading hours, building on an earlier 10.72% gain that saw it close at $20.24.
The significant price movements came amidst a sector-wide rally, with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) experiencing substantial gains of their own. The world's largest corporate Bitcoin treasury holder, Strategy Inc. (NASDAQ:MSTR), also saw its shares rise by 12.68% on Wednesday.
The optimism surrounding the potential passage of the CLARITY Act in September may be contributing to this market momentum. President Donald Trump's endorsement and Senate Banking Chairman Tim Scott's comments about the bill's chances have likely bolstered investor confidence.