Why Bitcoin-Related and Ethereum-Related Stocks Are Falling Today

Cryptocurrency related stocks including: Marathon Digital Holdings Inc (NASDAQ: MARA), Riot Blockchain Inc (NASDAQ: RIOT) and Bit Digital Inc (NASDAQ: BTBT), trading lower amid a drop in price from Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO:ETH).

Weakness in crypto stocks may also align with general markets amid a surge in bond yields, which has weighed on growth sectors such as technology.

Marathon Digital is focused on mining digital assets. It owns cryptocurrency mining machines and a data center to mine the digital assets.

Riot Blockchain is focused on building, supporting and operating blockchain technologies.

Bit Digital is engaged in Bitcoin mining. The mining platform operates with the primary intention of collecting Bitcoin, which the company may sell from time to time to fund its operating costs.

BTC, ETH Price Action: Bitcoin fell 3.99% to $41,564 and Ethereum fell 5.57% to $2,866.91 over a 24-hour period at the time of publication.

Photo: Miloslav Hamrik by Pixabay.

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