Exploding Higher: Marathon Digital Holdings, Bitfarms, and Coinbase Global, the Stocks Tied to Bitcoin, Ethereum, and Dogecoin
Shares of Bitfarms Ltd, Coinbase Global Inc, and Marathon Digital Holdings Inc are all trading higher on Tuesday, as cryptocurrencies continue to see upward momentum. This could be in sympathy with the broader US market, which also saw gains after US CPI data for February met analyst expectations. President Biden’s reassurance to Americans about the stability of the financial sector may also have contributed to the positive sentiment. Marathon Digital focuses on mining digital assets and operates in the digital currency blockchain segment, with its cryptocurrency machines located in Canada. Bitfarms is a bitcoin self-mining company which runs vertically integrated mining operations with in-house management. Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. Marathon Digital shares rose 8.58% to $7.28, Bitfarms shares rose 10.85% to $0.91, and Coinbase shares rose 5.81% to $62.61.