Riot Platforms (NASDAQ:RIOT) stock dropped 15.1% in Thursday midafternoon trading as bitcoin (BTC-USD) erased a large chunk of its intraday rally, sending many crypto-tied stocks lower.

Marathon Digital (NASDAQ:MARA) -9.3%, HIVE Digital (NASDAQ:HIVE) -7.1%, Bitfarms (NASDAQ:BITF) -12.5%, CleanSpark (NASDAQ:CLSK) -5.8%, Core Scientific (OTCPK:CORZQ) -8.5% and Hut 8 (NASDAQ:HUT) -6% were among some the bitcoin (BTC-USD) miners that fell at the time of writing.

Crypto-related stocks advanced before the opening bell, but with bitcoin's (BTC-USD) retreat from its $49K multi-year high about 30 minutes before the open (now changing hands at $46.4K), the stocks took a turn south out of the gate.

Other crypto-linked stocks: MicroStrategy (NASDAQ:MSTR), the largest corporate holder of BTC, dipped 4.2%, crypto exchange Coinbase (NASDAQ:COIN) slid 6.3%, and Mike Novogratz's Galaxy Digital (OTCPK:BRPHF) decreased 4.5%.

Similarly, most of the now-approved spot bitcoin ETFs also dived in their first day of trading, after briefly posting gains.