Canaan Inc. (CAN), a leading provider of supercomputing solutions and Bitcoin mining hardware, saw its stock soar 9.24% in pre-market trading on Monday. This significant uptick comes on the heels of a broader rally in cryptocurrency-related stocks, fueled by Bitcoin's surge to a new all-time high of $106,600.

The pre-market surge follows an impressive 12.61% gain in Sunday's trading session, reflecting the strong momentum in the crypto sector. As Bitcoin reached unprecedented levels and Ethereum climbed to $3,645, investors are showing renewed interest in companies operating in the blockchain and mining sectors. Canaan, as a major manufacturer of high-performance computing chips and equipment for cryptocurrency mining, stands to benefit from this increased activity in the crypto space.

The rally is not limited to Canaan alone. Other crypto-related stocks have also experienced substantial gains in recent trading sessions. For instance, GAME rose 14%, BMNR increased by 10%, and BTBT matched Canaan's earlier 9% rise. This widespread uptick underscores the strong correlation between cryptocurrency prices and the performance of companies in the crypto ecosystem. As Bitcoin's price surge may incentivize more mining activities, investors appear to be betting on increased demand for Canaan's mining equipment.