4 Top Performing Blockchain Stocks In 2021 | Benzinga

Blockhain technology represents a relatively young, but emerging industry. Blockchains are a decentralized, distributed and public ledger consisting of blocks that contain records of transactions. They are known best for the relationship they have with cryptocurrencies such as Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC).

Blockchain databases are managed autonomously, offering authenticity through a peer-to-peer network and a distributed timestamping server.

We’ll detail below four of the top-performing blockchain stocks this year using trailing 12-month (TTM) revenue as the performance metric.

Coinbase Global Inc. (NASDAQ:COIN) A global leader in the crypto economy, designed to enable its users to invest, spend and earn cryptocurrency. Despite being the world’s largest crypto exchange, Coinbase holds only 4,487 Bitcoin.

  • Revenue: $5.9 billion
  • Net Income: $1.234 billion (Q3)
  • Market Cap: $55.67 billion

HIVE Blockchain Technologies LTD. (NASDAQ:HIVE) The first publicly traded crypto miner, the company mined 656 Bitcoin and over 8,688 Ethereum in third quarter. The Canadian company now holds 1,116 Bitcoin and 25,154 Ethereum.

  • Revenue: $195.2 million
  • Net Income: $104.6 million
  • Market Cap: $1.43 billion
  • 12-month trailing total return: 25.7%

RIOT Blockchain Inc. (NASDAQ:RIOT) is a crypto mining company and hosts the largest Bitcoin mining farm in the United States. Riot has secured purchase agreements for S19 miners, which would bring the hash rate from the current 3.0 EH/s to an astounding 9.0 EH/s. Riot holds approximately 3,995 Bitcoin.

  • Revenue: $127.6 million
  • Net Income: $15.4 million
  • Market Cap: $2.7 billion
  • 12-month trailing total return: 123.6%

Bitfarms Ltd. (NASDAQ:BITF) Bitfarms provides computing power to cryptocurrency networks such as Bitcoin, earning fees from each network for securing and processing transactions. Powered by clean hydroelectricity, Bitfarms hosts five facilities in Canada. They even offer electrician services to both commercial and residential clients in Quebec. The mining firm currently holds about 9,297 Bitcoin.

  • Revenue: $121.1 million
  • Net Income: $7.1 million
  • Market Cap: $954.94 million
  • 12-month trailing total return: 323.8%

Source link