Blockchain technology has revolutionized the world of finance and cryptocurrencies, providing a secure and decentralized system for recording transactions. As the popularity of cryptocurrencies continues to rise, so does the prominence of companies in the blockchain industry. In this article, we will explore the top 10 blockchain companies by revenue, their contributions to the industry, and their market performance.
1. Coinbase Global Inc. (COIN)
- Revenue (TTM): $5.1 billion
- Net Income (TTM): -$1.2 billion
- Market Capitalization (Market Cap): $9.05 billion
- One-Year Trailing Total Return: -84.29%
- Exchange: NASDAQ
Coinbase Global is a leading provider of financial infrastructure and transaction services in the crypto economy. Their platform enables retail users to invest, spend, save, earn, and use cryptocurrencies. Additionally, Coinbase provides institutions with a deep pool of liquidity for transacting in crypto assets. The company also supports the development of crypto-based applications and secure acceptance of crypto assets as payment.
2. Canaan Inc. (CAN)
- Revenue (TTM): $947.5 million
- Net Income (TTM): $355.3 million
- Market Cap: $420.9 million
- One-Year Trailing Total Return: -55.4%
- Exchange: NASDAQ
Canaan is a Chinese company specializing in high-performance computing solutions. They focus on the design and development of application-specific integrated circuit (ASIC) chips for high-performance computing. Canaan also offers artificial intelligence (AI) services and is involved in advanced technology research and development, such as AI chips and algorithms.
3. Galaxy Digital Holdings Ltd (BRPHF)
- Revenue (TTM): $457 million (As of Sept. 30, 2022)
- Net Income (TTM): -$682.6 million
- Market Cap: $310.4 million
- One-Year Trailing Total Return: -82.9%
- Exchange: OTC Markets
Galaxy Digital Holdings provides digital asset and blockchain services to institutions, startups, and qualified individuals. Their services include trading, asset management, investment banking, mining, and ventures. Galaxy Digital aims to facilitate access to the crypto economy and supports the growth of the digital currency industry.
4. Riot Blockchain Inc. (RIOT)
- Revenue (TTM): $289.9 million
- Net Income (TTM): -$386.7 million
- Market Cap: $694.3 million
- One-Year Trailing Total Return: -83.4%
- Exchange: NASDAQ
Riot Blockchain is primarily focused on Bitcoin mining. They operate a large mining facility in Rockdale, TX, with a total power capacity of 750 MW. Riot Blockchain’s facility is considered one of the largest in North America for Bitcoin mining. The company is actively involved in the generation of digital assets through mining operations.
5. Silvergate Capital Corp. (SI)
- Revenue (TTM): $273.2 million
- Net Income (TTM): $130.7 million
- Market Cap: $592.3 million
- One-Year Trailing Total Return: -86.6%
- Exchange: NYSE
Silvergate Capital is the parent company of Silvergate Bank, a leading provider of financial infrastructure solutions and services for the digital currency industry. The bank serves as a Federal Reserve member and offers innovative financial solutions to participants in the digital currency ecosystem. Silvergate Capital plays a crucial role in supporting the growth and development of the digital currency industry.
6. Marathon Digital Holdings Inc (MARA)
- Revenue (TTM): $149.6 million
- Net Income (TTM): -$268.5 million
- Market Cap: $551.5 million
- One-Year Trailing Total Return: -87.4%
- Exchange: NASDAQ
Marathon Digital Holdings is a digital asset technology company involved in cryptocurrency mining. They operate a proprietary data center in Montana with a maximum power capacity of 105 Megawatts. Additionally, Marathon Digital Holdings co-hosts a mining facility in North Dakota. The company’s focus is on the blockchain ecosystem and the generation of digital assets through mining operations.
7. Bitfarms Ltd. (BITF)
- Revenue (TTM): $145.5 million
- Net Income (TTM): -$24.5 million
- Market Cap: $784.6 million
- One-Year Trailing Total Return: -89.6%
- Exchange: NASDAQ
Bitfarms is a Canadian company specializing in cryptocurrency mining. They operate five data centers in Quebec, Canada, with a combined power capacity of over 1.0 Gigawatt. Bitfarms focuses on sustainable mining practices and aims to leverage the potential of blockchain technology in an eco-friendly manner.
8. Argo Blockchain PLC (ARB)
- Revenue (TTM): $105.4 million
- Net Income (TTM): $18.8 million
- Market Cap: $1.47 billion
- One-Year Trailing Total Return: -72.1%
- Exchange: LSE
Argo Blockchain is a UK-based company involved in cryptocurrency mining. They operate data centers in multiple locations, including Canada and the United States. Argo Blockchain aims to provide a sustainable and efficient mining infrastructure and contribute to the growth of the blockchain industry.
9. Hive Blockchain Technologies Ltd (HIVE)
- Revenue (TTM): $70.2 million
- Net Income (TTM): -$6.6 million
- Market Cap: $1.09 billion
- One-Year Trailing Total Return: -86.3%
- Exchange: TSXV
Hive Blockchain Technologies is a Canadian company engaged in cryptocurrency mining. They operate mining facilities in multiple locations, including Sweden and Iceland. Hive Blockchain focuses on maximizing the efficiency of mining operations and contributing to the development of the blockchain ecosystem.
10. DMG Blockchain Solutions Inc. (DMGGF)
- Revenue (TTM): $18.7 million
- Net Income (TTM): -$14.6 million
- Market Cap: $90.2 million
- One-Year Trailing Total Return: -81.4%
- Exchange: OTC Markets
DMG Blockchain Solutions is a Canadian company providing blockchain and cryptocurrency solutions. They offer mining-as-a-service (MaaS) and blockchain software solutions to clients. DMG Blockchain Solutions aims to provide secure and efficient blockchain infrastructure for various industries.
In conclusion, these top 10 blockchain companies by revenue have made significant contributions to the blockchain industry. They play a crucial role in the development and growth of cryptocurrencies and the crypto economy as a whole. While their market performance may vary, these companies continue to innovate and drive the adoption of blockchain technology across various sectors.