Benzinga | Oct 1, 2021 09:00AM EDT

Why Bitcoin-Related And Ethereum-Related Stocks Are Rising

Shares of crypto-related stocks, including Marathon Digital Holdings Inc (NASDAQ:MARA) Riot Blockchain Inc (NASDAQ:RIOT) and Coinbase Global, Inc. (NASDAQ:COIN) are trading higher amid an increase in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Bitcoin is trading 8.8% higher at around $47,300 Friday morning.

Ethereum is trading 7.8% higher at around $3,230 Friday morning.

See Also: Bitcoin Surges, Liquidating $270M Short Positions In One Hour

Marathon Digital focuses on mining digital assets. It owns crypto-currency mining machines and a data center to mine digital assets. The company operates in the digital currency blockchain segment and its cryptocurrency machines are located in Canada.

Marathon Digital is trading higher by 7.4% at $31.60 per share.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The company's portfolio consists of Verady, Tesspay, Coinsquare and others.

Riot Blockchain is trading higher by 6.5% at $27.40 per share.

Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy.

Coinbase is trading higher by 3.4% at $235.25 per share.