Why Marathon Digital Gained On Thursday

Shares of crypto-related stocks, including Marathon Digital Holdings Inc MARA, traded higher on Thursday amid modest gains in Bitcoin and Ethereum prices.

The cryptocurrency markets may also be gaining and holding steady along with broader indexes following the Federal Open Market Committee's two-day policy meeting this week. The Fed decided to keep rates unchanged Wednesday.

Bitcoin BTC/USD and Ethereum ETH/USD were trading 1.3% and 0.6% higher, respectively. 

Meanwhile, Dogecoin DOGE/USD is trading 1.4% lower at $0.222487 for the day.

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 has a 52-week high of $57.75 and a 52-week low of $1.48.