MARA Holdings, a leading cryptocurrency mining company, saw its stock soar 5.78% in pre-market trading on Thursday, riding the wave of a broader crypto stock rally fueled by Bitcoin's approach to the $100,000 milestone. This significant uptick comes as the cryptocurrency market experiences a surge of optimism, with Bitcoin trading as high as $99,705 at one point, representing a 24-hour increase of 2.9%.

The rally is not limited to MARA Holdings alone. Other crypto-related stocks are also seeing substantial gains in pre-market trading. Coinbase Global jumped 4.5%, while Strategy (formerly known as MicroStrategy) rose 4%. This widespread uptick underscores the strong correlation between Bitcoin's performance and the stock prices of companies operating in the cryptocurrency ecosystem.

Analysts attribute this bullish trend to several factors, including positive market sentiment surrounding cryptocurrencies and expectations of increased profitability for mining companies as Bitcoin's value climbs. The surge in Bitcoin's price is partly driven by anticipation of a potential trade agreement between the US and the UK, as hinted by US President Donald Trump, signaling a possible de-escalation in global trade tensions. As Bitcoin continues its upward trajectory, investors appear to be betting on the potential for increased growth in the crypto mining sector, driving up stock prices of companies like MARA Holdings.