Benzinga | Oct 6, 2021 09:24AM 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 8.5% higher at around $54,280 Wednesday morning.

Ethereum is trading 2.1% higher at around $3,526 Wednesday morning.

Dogecoin is trading 4.5% higher at around $0.25 Wednesday morning.

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 4% at $38.68 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 4.2% at $27.45 per share.

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

Coinbase is trading higher by 1.7% at $244.24 per share.