Benzinga | Nov 2, 2021 11:13AM 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 2.8% higher at around $63,457 Tuesday morning.

Ethereum is trading 2.85% higher at around $4,480 Tuesday morning.

Coinbase also announced the acquisition of AI platform Agara. The firms didn't share the financial details of the acquisition, but the size of the deal is expected to be between $40 million and $50 million.

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 8% at $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 5% at $29.51 per share.

Coinbase Global provides financial infrastructure and technology for the cryptoeconomy.

Coinbase is trading higher by 2% at $337.74 per share.