Riot Blockchain, Marathon Digital, other crypto stocks fade after Wednesday rally

After jumping strongly on Wednesday, cryptocurrency miners and other crypto-related stocks slide in Thursday trading after bitcoin (BTC-USD) sank to under $40K. Miners on the decline include: Riot Blockchain (RIOT -1.4%), Marathon Digital (MARA -4.5%), BIT Mining (BTCM -5.0%), Hut 8 Mining (HUT -4.4%), Bitfarms (BITF -5.2%), Greenidge Generation (GREE -3.9%). Exchanges and other companies providing crypto services are also following the drop: Coinbase Global (COIN -3.8%), Bakkt Holdings (BKKT -5.5%), Galaxy Digital Holdings (OTCPK:BRPHF -1.8%). Silvergate Capital (SI +1.0%), however, is the rare crypto-related stock that's rising. The crypto markets performed well on Wednesday as President Biden's executive order laid out clear steps for a path toward regulating the industry and encouraging innovation, said Marcus Sotiriou, an analyst at U.K.-based digital asset broker GlobalBlock. In addition, South Korea elected Lee Jae-Myung, a crypto-friendly candidate, as the nation's president. Crypto markets soured on Thursday, a trend that's occurred after every