Home Ethereum Why Bitcoin-Related And Ethereum-Related Stocks Are On The Move Today – Yahoo Finance

Why Bitcoin-Related And Ethereum-Related Stocks Are On The Move Today – Yahoo Finance

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Cryptocurrency-related shares together with Marathon Digital Holdings Inc (NASDAQ: MARA) and Riot Blockchain Inc (NASDAQ: RIOT) are buying and selling increased Wednesday amid a rise within the worth of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) and constructive analyst protection from B. Riley Securities.

B. Riley Securities analyst Lucas Pipes maintained Marathon Digital with a Purchase ranking and raised the value goal from $54 to $87. Pipes maintained Riot Blockchain with a Purchase ranking and raised the value goal from $51 to $82.

The analyst’s mannequin now assumes a $45,000 Bitcoin worth versus the prior assumption of a $35,000 Bitcoin worth. The mannequin was additionally adjusted to replicate increased miner prices. Regardless of increased prices, unit economics for digital mining stays “extremely engaging,” in response to the analyst.

“Whereas these changes signify a big improve from our prior estimates, we consider our mannequin remains to be conservative,” Pipes stated.

Marathon Digital is concentrated on mining digital property. It owns crypto-currency mining machines and an information middle to mine the digital property.

Riot Blockchain is concentrated on constructing, supporting and working blockchain applied sciences.

BTC, ETH Value Motion: Bitcoin was up 2.71% over a 24-hour interval and Ethereum was up 3.55% over a 24-hour interval at publication time.

Photograph: Quote Inspector from Flickr.

Newest Rankings for MARA

Sep 2021

B. Riley Securities

Maintains

Purchase

Jun 2021

Compass Level

Initiates Protection On

Purchase

Could 2021

B. Riley Securities

Initiates Protection On

Purchase

View More Analyst Ratings for MARA
View the Latest Analyst Ratings

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© 2021 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.

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