Although it is still in its infancy, the blockchain sector is expanding quickly. Blockchains are decentralized databases that are shared by network nodes. They are most known for their function in maintaining a secure and decentralized record of transactions in cryptocurrencies like Bitcoin.
With no requirement for a third party to establish trust, blockchains ensure the security and validity of a data record. The industry comprises a variety of businesses, such as producers of blockchain technology, cryptocurrency miners, and financial technology (fintech) firms.
Blockchain is the fundamental database technology that underpins cryptocurrencies like bitcoin. Today, blockchain is a significant sector that has given rise to multiple billion-dollar businesses.
The online bitcoin broker Coinbase, which generates annual profits nearly $6 billion, is one of the most prosperous blockchain businesses.
Other major players have scored big profits by building mining hardware, investing, or providing exchange platforms.
Some of these companies also earn revenue from more traditional lines of business.
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Ok, here are the top 10 blockchain companies by trailing-12-month (TTM) revenue.
#1 Coinbase Global Inc. (COIN)
- Revenue (TTM): $5.9 billion
- Net Income (TTM): $3.0 billion
- Market Capitalization (Market Cap): $52.4 billion
- One-Year Trailing Total Return: N/A (see company description below)
- Exchange: Nasdaq
Global provider of financial infrastructure, including transaction services and technologies created for the cryptocurrency industry, is Coinbase Global. Retail users of the company's platform can buy, sell, save, earn, and use bitcoins. The platform also enables the development of the crypto-ecosystem and offers institutions access to a deep pool of liquidity for cryptocurrency trading and enables crypto-ecosystem partners to build crypto-based applications as well as securely accept crypto assets as payment.
#2 Monex Group, Inc. (MNXBF)
- Revenue (TTM): $936.8 million
- Net Income (TTM): $218.1 million
- Market Cap: $1.7 billion
- One-Year Trailing Total Return: 223.3%
- Exchange: OTC Markets
A Japanese-based online financial company is called Monex Group. It runs retail internet brokerages in Australia, China, Japan, and the United States. Additionally, the business provides asset management, investment education, mergers and acquisitions (M&A) consulting, foreign exchange (forex), and cryptocurrency exchange services.
#3 BIT Mining Ltd. (BTCM)
Revenue (TTM): $450.1 million
Net Income (TTM): -$27.9 million
Market Cap: $494.5 million
One-Year Trailing Total Return: 146.7%
Exchange: New York Stock Exchange (NYSE)
A Hong Kong-based cryptocurrency mining business is called BIT Mining. Its commercial activities include data center, mining pool, and cryptocurrency mining. A collective group of cryptocurrency miners known as a mining pool pools their computing power across a network to efficiently mine for cryptocurrencies. Additionally, the business owns the blockchain browser BTC.com.
#4 Canaan Inc. (CAN)
Revenue (TTM): $438.7 million
Net Income (TTM): $87.4 million
Market Cap: $905.0 million
One-Year Trailing Total Return: 24.7%
Exchange: Nasdaq
A company called Canaan is established in China and offers high-performance computing technologies. The company's primary areas of interest are the design of high-performance application-specific integrated circuit (ASIC) chips, chip research and development, computing equipment manufacturing, and software services. It offers a variety of artificial intelligence (AI) services and works on the research and development of cutting-edge technologies, including system on a chip (SoC) integration, AI chips, AI algorithms, and more.
#5 Voyager Digital Ltd. (VYGVF)
Revenue (TTM): $254.6 million
Net Income (TTM): -$76.4 million
Market Cap: $1.2 billion
One-Year Trailing Total Return: 314.4%
Exchange: OTC Markets
Voyager Digital is a cryptocurrency asset brokerage that gives institutional and individual clients access to a digital marketplace for buying and selling crypto assets. More than 60 different crypto assets can be traded securely through the company's mobile app. Additionally, it provides worldwide crypto payment options to both individuals and businesses.
#6 SOS Ltd. (SOS)
Revenue (TTM): $224.9 million
Net Income (TTM): -$7.2 million
Market Cap: $238.7 million
One-Year Trailing Total Return: -51.8%
Exchange: NYSE
SOS is a technological business with headquarters in China that touts AI blockchain as its main technology. The business provides customers with information technology services like digital asset management, big data, trade, and rescue. Additionally, it offers marketing-related data, technology, and solutions for emergency rescue services like insurance, finance, healthcare, automobiles, safety, and mutual aid. It also offers information security services.
#7 HIVE Blockchain Technologies Ltd. (HIVE)
Revenue (TTM): $245.8 million
Net Income (TTM): $132.2 million
Market Cap: $975.3 million
One-Year Trailing Total Return: 25.7%
Exchange: Nasdaq
A cryptocurrency mining business based in Canada is called HIVE Blockchain Technologies. The business owns data center facilities in Canada, Sweden, and Iceland that are entirely powered by green energy and are used to mine cryptocurrencies like Bitcoin and Ethereum.
#8 Silvergate Capital Corp. (SI)
Revenue (TTM): $170.9 million
Net Income (TTM): $78.5 million
Market Cap: $2.9 billion
One-Year Trailing Total Return: 168.5%
Exchange: NYSE
The parent company of Silvergate Bank, which offers financial infrastructure solutions and services to players in the digital currency market, is Silvergate Capital. The business uses its technology platform to create solutions for many of the biggest digital currency exchanges in the United States and global investors.
#9 Riot Blockchain Inc. (RIOT)
Revenue (TTM): $127.6 million
Net Income (TTM): $15.4 million
Market Cap: $2.7 billion
One-Year Trailing Total Return: 123.6%
Exchange: Nasdaq
A firm that mines bitcoin is Riot Blockchain. The company runs mining operations out of a site in Texas and hosts miners at a location in New York run by Coinmint LLC. The U.S. facility, a fully owned subsidiary of Riot Blockchain, houses the largest Bitcoin hosting and mining operation in North America, as measured by the amount of electricity it can produce.
#10 Bitfarms Ltd. (BITF)
Revenue (TTM): $121.1 million
Net Income (TTM): $7.1 million
Market Cap: $885.6 million
One-Year Trailing Total Return: 323.8%
Exchange: Nasdaq
Bitfarms is a bitcoin mining business situated in Canada. It also provides on-site technical support, data analytics, and electrical engineering and installation services in addition to its mining operations. It has two main business divisions: the first manages server farms that support blockchain transaction validation and verification, and the second offers electrician services to Quebec customers in the commercial and residential sectors.
So, those are the top 10 blockchain companies by trailing-12-month (TTM) revenue.
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