Why Marathon Digital, Riot Blockchain, and The9 Stocks Were All Down Today

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Bitcoin (CRYPTO: BTC), the world’s most valuable cryptocurrency by market cap, hit its lowest price in over a week on Wednesday. According to CoinDesk, the price is down roughly 4% over the past 24 hours as of this writing. The reason for Bitcoin’s drop isn’t clear. But when it falls, it affects many cryptocurrency stocks.

Among those are companies that mine Bitcoin. These include Marathon Digital Holdings (NASDAQ: MARA), Riot Blockchain (NASDAQ: RIOT), and The9 Limited (NASDAQ: NCTY). These three stocks finished today’s session down 12%, 11%, and 15%, respectively. 

Image source: Getty Images.

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