Why Bitcoin- And Ethereum-Related Stocks Are Rising

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

Bitcoin is trading 3.1% higher Thursday afternoon at around $44,000.

Ethereum is trading 3.3% higher Thursday afternoon at around $3,100.

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 3.5% at $3.85 per share.

Coinbase is the leading cryptocurrency exchange platform in the United States.

Coinbase is trading higher by 4.4% at $191.22 per share.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The company's portfolio consists of Verady, Tesspay, Coinsquare and others.

Riot Blockchain is trading higher by 2.5% at $21.36 per share.