By Chris Wack
Riot Blockchain inc. and Marathon Digital Holdings shares rose in unison with bitcoin prices Wednesday.
Bitcoin was up 10% to $42,238.62 at 10:35 a.m. ET, and ethereum was up 8% to $2,741.34.
Riot Blockchain shares were up 12% to $16.93 and Marathon Digital shares were up 14% to $25.56.
On Wednesday, analysts at Compass Point raised their price target for Marathon Digital shares to $66 from $48 a share, while maintaining its Buy rating on the stock. However, Compass Point cut its rating for Riot Blockchain to Neutral from Buy, while cutting its price target to $39 from $45 a share.
Last week, Riot said it produced 436 bitcoin in February, while Marathon Digital produced 360 bitcoin for the month.
Write to Chris Wack at chris.wack@wsj.com
