6 Biggest Blockchain Companies

COIN, CAN, and BRPHF Lead the 6 Biggest Blockchain Companies List

Blockchains are distributed databases shared among the nodes of computer networks. They are best known for the role they play in cryptocurrencies, such as Bitcoin, for maintaining a secure and decentralized record of transactions.

Blockchains guarantee the authenticity and security of a record of data and generate trust without the need for a third party. Companies within the industry include financial technology (fintech) companies, cryptocurrency miners, and manufacturers of blockchain technology.

As of Dec. 15, 2022, we've ranked 6 of the biggest blockchain companies by revenue. This list is limited to companies that are publicly traded in the U.S. or Canada, either directly or through American depositary receipts (ADRs).

Key Takeaways

  • Blockchain is the core database technology behind bitcoin and cryptocurrencies.
  • Blockchain is now a major industry that has birthed several billion-dollar companies.
  • One of the most successful blockchain companies is Coinbase, an online cryptocurrency broker with annual revenues of $3.3 billion in 2022.
  • Associated companies include those mining hardware, investing, or providing exchange platforms.

#1 Coinbase Global Inc. (COIN)

Coinbase Global is a global provider of financial infrastructure, including transaction services, and technology designed for the crypto economy. The company’s platform enables its retail users to invest, spend, save, earn, and use cryptocurrencies.

The platform also provides institutions with a deep pool of liquidity for transacting in crypto assets and enables crypto-ecosystem partners to build crypto-based applications as well as securely accept 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 China-based provider of high-performance computing solutions. The company is focused on an application-specific integrated circuit (ASIC) high-performance computing chip design, as well as chip research and development, computing equipment production, and software services.

It provides a range of artificial intelligence (AI) services and is involved in the research and development of advanced technology, 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 provides access to the crypto economy as a digital asset and blockchain leader for institutions, startups, and qualified individuals. Galaxy serves the digital economy with financial services such as trading, asset management, investment banking, mining, and ventures.

#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’s mining operations include its facility in Rockdale, TX, which has a total power capacity of 750 MW, with 450 MW currently developed. Whinstone’s facility is believed to be the largest single facility, as measured by developed capacity, in North America for Bitcoin mining. 

#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 provider of financial infrastructure solutions and services to participants in the digital currency industry. Silvergate is a Federal Reserve member bank and the leading provider of innovative financial infrastructure solutions and services for the growing 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 is a digital asset technology company that mines cryptocurrencies. With a focus on the blockchain ecosystem and the generation of digital assets, Marathon operates a proprietary data center in Montana with a maximum power capacity of 105 Megawatts and co-hosts a facility in North Dakota. In 2022, Marathon is expected to deploy 133,000 miners, generating approximately 13.3 Exahash.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. IBM. "What Is Blockchain Technology?"

  2. Nasdaq. "1 Top Cryptocurrency to Buy in 2023."

  3. CoinDesk. "Coinbase CEO Armstrong Confirms Street Expectations for a 50%-Plus Decline in Revenue in 2022."

  4. Coinbase. "About."

  5. Canaan. "Investor Relations."

  6. Galaxy Digital Holdings Ltd. "Investor Relations."

  7. Riot Blockchain. "Mining Operations."

  8. Silvergate. "About Silvergate Bank."

  9. Marathon Digital Holdings. "Investor Relations."

Take the Next Step to Invest
×
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.
Service
Name
Description
Take the Next Step to Invest
×
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.