Why Are Bitcoin-Related Stocks Trading Lower Today?

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Shares of crypto-related stocks, including Marathon Digital Holdings Inc (NASDAQ:MARA) and Riot Blockchain Inc (NASDAQ:RIOT) are trading lower by 9.3% and 9.7%, respectively, as Bitcoin falls after U.S. officials seized $2.3 million of the ransom collected by the Colonial Pipeline hackers.

Bitcoin is trading lower by around 2.5% at $32,000 at press time Tuesday. 

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 crypto-currency machines are located in Canada.

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

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