Benzinga | Oct 28, 2021 10:24AM EDT

Why Cryptocurrency-Related Stocks Are Rising Today

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 several cryptocurrency coins.

Bitcoin (CRYPTO: BTC) is trading 4.5% higher at around $61,552 Thursday morning.

Ethereum (CRYPTO: ETH) is trading 5% higher at around $4,182 Thursday morning.

Dogecoin (CRYPTO: DOGE) is trading 27% higher at around $0.30 Thursday morning.

Shiba Inu (CRYPTO: SHIB) is trading 15% higher at around $0.000074 Thursday 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 5.7% at $52.91 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% at $27.66 per share.

Coinbase Global provides financial infrastructure and technology for the cryptoeconomy.

Coinbase is trading higher by 4.1% at $324.48 per share.