What's Going On With Marathon Digital and Riot Platforms Stock?

Shares of Bitcoin-miners Marathon Digital Holdings, Inc. MARA and Riot Platforms, Inc. RIOT are trading higher Friday as the price of Bitcoin BTC/USD climbs.

What To Know:

Crypto-related stocks took a hit following the approval of Bitcoin spot ETFs, including BlackRock’s iShares Bitcoin Trust IBIT, earlier in January.

The price of Bitcoin even fell below $39,000 earlier this week. However, Bitcoin is up nearly 6% on Friday, and shares of Bitcoin-miners are moving with it.

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Both Riot and Marathon Digital have grabbed the interest of short-sellers with 22.24% of Marathon shares and 17% of available Riot shares being sold short, according to data from Benzinga Pro. The high short-interest can contribute to large price moves for the stocks, especially when combined with heavy trading volume.

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MARA, RIOT Price Action: According to Benzinga Pro, Marathon Digital shares are up 11.7% at $18.17 , and Riot Platforms shares are up 7.3% at $11.42 at the time of publication.

Image: Walkerssk from Pixabay