Why Bitcoin-Related Stocks Are Trading Lower Today

Shares of several bitcoin-related stocks such as Marathon Digital Holdings, Inc. MARA, Riot Blockchain, Inc. RIOT and Canaan Inc. CAN are trading lower after Tesla Inc. TSLA announced it will suspend accepting bitcoin as payment.

Marathon Digital Holdings focuses on mining digital assets and owns crypto-currency mining machines.

The stock was trading approximately 11% lower at $20.39. The stock has a 52-week high of $57.75 and a 52-week low of $0.41.

Riot Blockchain operates in a single segment of cryptocurrency mining.

The stock was trading approximately 13% lower at $23 per share. The stock has a 52-week high of $79.50 and a 52-week low of $1.03.

Canaan engages in the research, design, and sale of integrated circuit final system products by integrating IC products for bitcoin mining.

The stock was trading approximately 9% lower at $8.98 per share. The stock has a 52-week high of $39.10 and a 52-week low of $1.76.