Why Bitcoin- And Ethereum-Related Stocks Are Rising

Shares of crypto-related stocks, including Bit Digital Inc BTBT, Canaan Inc - ADR CAN and Riot Blockchain Inc RIOT, are all trading higher Friday afternoon amid an increase in the price of Bitcoin BTC/USD and Ethereum ETH/USD.

Bitcoin is trading 3.0% higher Friday afternoon at around $41,750.

Ethereum is trading 5.8% higher Friday afternoon at around $2,950.

Bit Digital is engaged in the bitcoin mining business. The company’s mining platform operates with the primary intent of accumulating bitcoin which may sell for fiat currency from time to time depending on market conditions.

Bit Digital is trading higher by 8.6% at $3.67 per share.

Canaan is a developer of supercomputing chips and the manufacturer of digital blockchain computing equipment as well as the supplier of the overall scheme for computer software and hardware of digital blockchain.

Canaan is trading higher by 15.6% at $5.54 per share.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The company's portfolio consists of Verady, Tesspay, Coinsquare and others.
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Riot Blockchain is trading higher by 6.2% at $19.58 per share.