Benzinga | Oct 28, 2021 10:24AM 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 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 2.4% higher at around $63,500 Monday morning.

Ethereum is trading 1.8% higher at around $4,200 Monday 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 9.6% at $54.23 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 5.9% at $29.96 per share.

Coinbase Global provides financial infrastructure and technology for the cryptoeconomy.

Coinbase is trading higher by 7.1% at $322.08 per share.