Bitfarms Ltd. (BITF) saw its stock soar 6.51% in pre-market trading on Monday, as crypto-related stocks experienced a broad rally. The surge in Bitfarms' share price aligns with a general uptrend observed across the cryptocurrency sector.

The pre-market rally wasn't limited to Bitfarms alone. Other crypto stocks also showed significant gains, with companies like Bakkt Holdings, CleanSpark, and Riot Platforms seeing increases ranging from 5% to over 9% in overnight trading. This widespread uptick in crypto-related stocks suggests a renewed investor interest in the sector.

The positive sentiment in crypto stocks appears to be closely tied to the performance of major cryptocurrencies. Bitcoin, the leading digital asset, was trading at $115,549, marking a 3.41% increase over the past 24 hours. Meanwhile, Ethereum, the second-largest cryptocurrency by market cap, saw an even more substantial gain of 6.2%, trading at $4,194.

While specific catalysts for Bitfarms' individual performance were not immediately clear, the overall crypto market strength likely played a significant role in driving up the company's stock price. As a major player in the cryptocurrency mining industry, Bitfarms' fortunes are often closely linked to the broader trends in the crypto market. The rising prices of Bitcoin and Ethereum typically bode well for mining companies, potentially leading to improved profitability and investor optimism.