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

Published 26/01/2024, 17:37
© Reuters.  What's Going On With Marathon Digital and Riot Platforms Stock?
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Benzinga - Shares of Bitcoin-miners Marathon Digital Holdings, Inc. (NASDAQ:MARA) and Riot Platforms, Inc. (NASDAQ:RIOT) are trading higher Friday as the price of Bitcoin (CRYPTO: BTC) climbs.

What To Know:

Crypto-related stocks took a hit following the approval of Bitcoin spot ETFs, including BlackRock’s iShares Bitcoin Trust (NASDAQ: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.

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.

Related News: What’s Going On With Bitcoin-Miner Hut 8 Stock?

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

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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