Crypto-related stocks plunge in U.S. pre-market, Marathon Digital drops 14%

Escalating tensions in the Middle East, weaker-than-expected U.S. job figures and a higher-than-forecast U.S. unemployment rate have led to a significant pre-market decline in crypto-related company stocks on Aug. 5, CoinDesk reported. Bitcoin miners Marathon Digital (ticker: MARA) and Iris Energy (ticker: IREN) fell approximately 14% in pre-market trading, while Hut 8 (ticker: HUT) and Riot Platforms (ticker: RIOT) experienced declines of 12% and 11%, respectively. Additionally, crypto exchange Coinbase saw a decline of over 9%, and software developer MicroStrategy fell by 13%.