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

Shares of several cryptocurrency-related stocks including Bitfarms Ltd. BITF, Marathon Digital Holdings, Inc. MARA and Canaan Inc. CAN are trading higher in sympathy with the price of Bitcoin BTC/USD and Ethereum ETH/USD.

Last checked, Bitcoin was trading about 2.8% higher at $46,644.09 and Ethereum was trading about 3.8% higher at $3,256.77.

Bitfarms Ltd., a blockchain infrastructure company, mines for cryptocurrency coins and tokens in North America.

Bitfarms' stock was trading about 9.5% higher at $7.22 per share on Wednesday. The stock has a 52-week high of $10 and a 52-week low of $0.21.

Marathon Digital operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States.

Marathon's stock was trading about 1.8% higher at $36.36 per share. The stock has a 52-week high of $57.75 and a 52-week low of $1.48.

Canaan Inc. engages in the research, design, and sale of integrated circuit final system products by integrating IC products for bitcoin mining and related components primarily in the People's Republic of China.

Canaan's stock was trading about 5.8% higher at $9.97 per share. The stock has a 52-week high of $39.10 and a 52-week low of $1.80.