Why Bitcoin-Related And Ethereum-Related Stocks Are Dropping Today

Cryptocurrency-related stocks, including Marathon Digital Holdings Inc (NASDAQ: MARA), Riot Blockchain Inc (NASDAQ: RIOT) and Bit Digital Inc (NASDAQ: BTBT), are trading lower amid a decrease in the price of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Weakness in crypto stocks may also be in sympathy with overall markets amid a rise in bond yields, which has weighed on growth sectors such as technology.

Marathon Digital is focused on mining digital assets. It owns crypto-currency mining machines and a data center to mine the digital assets.

Riot Blockchain is focused on building, supporting and operating blockchain technologies.

Bit Digital is engaged in the Bitcoin mining business. Its mining platform operates with the primary intent of accumulating Bitcoin, which the company may sell from time to time to fund its operating expenses.

BTC, ETH Price Action: Bitcoin was down 3.99% at $41,564 and Ethereum was down 5.57% at $2,866.91 over a 24-hour period at time of publication.

Photo: Miloslav Hamřík from Pixabay.

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