Primary Keyword: Blockchain Companies
Secondary Keywords: cryptocurrencies, financial technology, fintech companies, cryptocurrency miners, blockchain technology, Coinbase Global, Canaan Inc., Galaxy Digital Holdings Ltd, Riot Blockchain Inc., Silvergate Capital Corp., Marathon Digital Holdings Inc.
The blockchain industry has revolutionized the way we think about transactions and data security. With its decentralized and secure nature, blockchain technology has become the backbone of cryptocurrencies like Bitcoin. But the impact of blockchain extends far beyond digital currencies. Today, the blockchain industry encompasses a wide range of companies, from financial technology (fintech) firms to cryptocurrency miners and manufacturers of blockchain technology.
In this article, we will explore the top 6 blockchain companies by revenue, ranked as of December 15, 2022. These companies have made significant strides in the blockchain industry and have become key players in shaping its future. Let’s dive into the details of each company and understand their contributions to the ever-evolving world of blockchain.
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 global provider of financial infrastructure and transaction services designed for the crypto economy. The company’s 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 platform also supports crypto-ecosystem partners in building crypto-based applications and securely accepting 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 Inc. is a China-based provider of high-performance computing solutions. The company specializes in application-specific integrated circuit (ASIC) high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan offers a range of artificial intelligence (AI) services and is actively involved in the research and development of advanced technologies such as AI chips, AI algorithms, system-on-a-chip (SoC) integration, and more.
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 access to the crypto economy as a digital asset and blockchain leader for institutions, startups, and qualified individuals. The company offers various financial services, including trading, asset management, investment banking, mining, and ventures, to serve the digital economy. Galaxy Digital Holdings aims to bridge the gap between traditional financial services and the rapidly growing world of cryptocurrencies.
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 a Bitcoin mining company. The company operates a mining facility in Rockdale, TX, with a total power capacity of 750 MW, of which 450 MW is currently developed. Riot Blockchain’s facility, known as Whinstone, is believed to be the largest single facility in North America for Bitcoin mining, as measured by developed capacity. With a focus on the blockchain ecosystem and the generation of digital assets, Riot Blockchain is actively contributing to the growth of the blockchain industry.
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 Corp. is the parent company of Silvergate Bank, which provides financial infrastructure solutions and services to participants in the digital currency industry. As a Federal Reserve member bank, Silvergate is a leading provider of innovative financial infrastructure solutions for the growing digital currency industry. The company supports the digital economy by facilitating secure and efficient transactions for its clients.
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 that specializes in cryptocurrency mining. The company operates a proprietary data center in Montana with a maximum power capacity of 105 Megawatts. Additionally, Marathon co-hosts a facility in North Dakota. In 2022, the company is expected to deploy 133,000 miners, generating approximately 13.3 Exahash. By focusing on the blockchain ecosystem and the production of digital assets, Marathon is actively contributing to the growth and decentralization of cryptocurrencies.
Conclusion
The blockchain industry is witnessing remarkable growth, and these six companies are at the forefront of this revolution. Coinbase Global, Canaan Inc., Galaxy Digital Holdings, Riot Blockchain, Silvergate Capital Corp., and Marathon Digital Holdings have made significant contributions to the development and adoption of blockchain technology. Whether it’s providing financial infrastructure, mining cryptocurrencies, or offering innovative financial services, these companies are shaping the future of the blockchain industry.
As the blockchain industry continues to evolve, we can expect more innovative solutions and companies to emerge. The impact of blockchain technology goes beyond digital currencies, and its potential to revolutionize various sectors is vast. With its decentralized and secure nature, blockchain has the power to transform industries such as finance, healthcare, supply chain, and more. As investors and businesses recognize the value of blockchain, we can expect the industry to continue its upward trajectory.
Additional Information: The blockchain industry is expected to grow at a CAGR of 67.3% from 2021 to 2028.