Investing.com -- Cryptocurrency-exposed stocks climbed in premarket trading on Friday as Bitcoin surged past $118,000 for the first time, extending its record-breaking rally.

Bitcoin, the largest cryptocurrency, rose about 7% to $118,761.3.

Several crypto-related stocks posted significant gains in premarket trading. Hive Digital led the pack with a 6.9% increase, followed by Bitfarms at 6.5% and Bit Digital at 5.8%.

Other notable gainers included MARA Holdings, up 4.3%, Cipher Mining (NASDAQ: CIFR ), rising 4.2%, and Hut 8, advancing 3.8%.

Riot Platforms (NASDAQ: RIOT ) and CleanSpark (NASDAQ: CLSK ) both gained 3.5%, while MicroStrategy added 3.6%.

Cryptocurrency exchange Coinbase (NASDAQ: COIN ) saw its shares rise 2.1%, while Bakkt moved up 3% in the early session.

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