Canaan Inc. (NASDAQ: CAN), a leading provider of supercomputing solutions for bitcoin mining, saw its stock soar 18.12% in pre-market trading on Monday. This remarkable surge comes amid a broader cryptocurrency market rally, with Bitcoin breaking the $110,000 mark and Ethereum surpassing $4,000.

The significant uptick in Canaan's stock price aligns with a general uptrend observed across crypto-related stocks. Several companies in the sector posted notable gains, with Bitfarms rising 12%, Bit Digital and American Bitcoin up 7%, and others like BitMine, CleanSpark, Strategy, Riot, and Marathon Digital Holdings (MARA) seeing increases ranging from 3% to 4%.

The bullish sentiment in the crypto stock market appears to be fueled by the strong performance of major cryptocurrencies. Bitcoin, the world's largest cryptocurrency by market capitalization, climbed above $110,000, marking a nearly 3% gain over the past 24 hours. Similarly, Ethereum surged past the $4,000 mark, rising more than 3% in the same period.

As a manufacturer of high-performance computing chips and equipment for cryptocurrency mining, Canaan Inc. stands to benefit significantly from this positive momentum in the crypto market. The company's position as the world's second-largest Bitcoin mining company further amplifies the impact of the current market rally on its stock price. Investors seem to be betting on Canaan's potential for increased revenues and profitability as the value of mined Bitcoin rises.

This pre-market surge in Canaan's stock price reflects growing investor confidence in the cryptocurrency sector and highlights the close correlation between crypto asset prices and the performance of related stocks. As the crypto market continues to evolve and mature, companies like Canaan are likely to remain at the forefront of investor interest, particularly during periods of significant price appreciation in major cryptocurrencies.