Bit Digital, Inc. (BTBT) saw its shares soar 5.49% in after-hours trading on Friday, significantly outperforming its initial 3% gain reported earlier. This surge comes amid a broader rally in crypto-related stocks, following major legislative developments in the United States.

The U.S. House of Representatives passed three significant bills related to cryptocurrency regulation on Thursday. The most notable among these is a bill creating a regulatory framework for stablecoins, which is now headed to President Donald Trump for signing into law. Additionally, two other bills were passed: one outlining a broader regulatory framework for cryptocurrencies, and another prohibiting the U.S. from issuing a central bank digital currency.

These legislative advancements are seen as a watershed moment for the digital asset industry, potentially providing much-needed regulatory clarity. For companies like Bit Digital, which operates in the cryptocurrency mining sector, this regulatory progress could signal a more stable and growth-friendly environment. Investors appear to be betting on improved prospects for crypto-related businesses, driving the after-hours rally in Bit Digital's stock and other crypto shares.