Bitcoin Miners Dominate Tuesday’s 10 Best-Performing Stocks

5. MARA Holdings Inc. (NASDAQ:MARA)

MARA Holdings saw its share prices increase by 14.40 percent on Tuesday to close at $14.06 each as investors snapped up shares in Bitcoin miners following the cryptocurrency asset’s 5 percent surge.

As of this writing, Bitcoin attracted investor interest, hovering at the $91,000 level, amid volatility in the stock market and the weakening of the US dollar.

MARA is currently one of the largest Bitcoin hoarders, with more than 44,000 Bitcoins in its inventory.

Last month, the company announced plans to raise $2 billion from a new round of share sale, with proceeds to be used for funding more Bitcoin purchases. The aggressive expansion was in line with its plans to bolster its position in the cryptocurrency market, following a strategy similar to that employed by Michael Saylor, the executive chair of Strategy Inc., formerly MicroStrategy.

In a notable commitment to its Bitcoin strategy, CEO Fred Thiel previously declared that the company would not sell any of the Bitcoin it mines, opting instead for a “full HODL” approach while continuing to acquire more cryptocurrency for reserves.