Bitcoin-Mining, Crypto-Related Stocks Gain Ahead of Possible Legislation

By Connor Hart

Bitcoin's price soared past $120,000 for the first time early Monday, as three bills important for the cryptocurrency sector are set to make their way through Congress over the next five days.

Bitcoin-mining and crypto-related stocks gained in response.

In premarket trading, shares of Coinbase Global climbed 1.2%, to $391.55; MicroStrategy rose 2.2%, to $444.20; Bit Digital jumped 3.6%, to $3.45; Riot Platforms was up 3.2%, to $12.82; Hut 8 gained 3.5%, to $22.59; and MARA Holdings climbed 3.6%, to $19.82.

Cryptocurrencies have benefited from President Trump's pro-crypto stance in recent months.

Now, legislation passing through the House of Representatives aims to further strengthen investors' bet on digital currencies. Three bills will look to provide structure to the sector if passed: the Clarity Act, the Genius Act and the Anti-CBDC Surveillance State Act.

Write to Connor Hart at connor.hart@wsj.com