Canaan Inc. (CAN), a leading provider of Bitcoin mining machines and AI chips, saw its stock soar 11.83% in pre-market trading on Monday. This significant uptick comes as part of a broader surge in crypto-related shares, with several companies in the sector experiencing notable gains.

The rally in Canaan's stock price reflects the current positive sentiment surrounding the cryptocurrency market. As a major player in the Bitcoin mining hardware industry, Canaan's performance often correlates with trends in the broader cryptocurrency ecosystem. The company's strong pre-market showing builds upon its 9.92% gain during Sunday's overnight trading session, indicating sustained investor interest.

Other crypto-related stocks also saw impressive gains during the overnight session. BIT Mining and Bakkt were up over 4%, while GameSquare, Bitfarms, and Circle all rose by approximately 3%. This collective upward movement suggests a potential shift in investor sentiment towards the cryptocurrency sector, which could have positive implications for companies like Canaan Inc. in the near future. Investors will be closely watching to see if this momentum continues throughout the trading day.