In this article, we discuss the 5 most valuable blockchain companies in the world. If you want to read our detailed analysis of these companies, go directly to the 15 Most Valuable Blockchain Companies in the World.
5. VMware, Inc. (NYSE: VMW)
Revenue: Estimated $741 million
VMware Inc is an American cloud computing company founded 28 years ago in California. Its primary focus is virtualization technologies and now it has also entered the blockchain arena.
VMware offers VMware Blockchain, which is a decentralized network that allows the company’s customers to utilize it for a bid area of industries such as financial services, supply chain, and healthcare.
VMware Blockchain has been adopted by Broadridge Financial Solutions for the Repo market, and it has also been adopted by the Australian Stock Exchange as a ledger.
Based on VMware’s filings with the Securities and Exchange Commission (SEC), VMware earned $741 million in revenue from the Subscription and Software-as-a-Service (SaaS) model for the quarter which ended in April, which likely includes VMware Blockchain.
4. Bitfury Group (Private)
Revenue: $500 million in 2018
Bitfury Group Ltd. is an innovative blockchain firm that operates out of Amsterdam, Netherlands. The company offers pre-built bitcoin blockchain software solutions that enable companies to securely record and verify their transactions. It also offers custom hardware that audits the Bitcoin blockchain in exchange for new tokens, and the company helped the Georgian government publish 300,000 land deeds onto the blockchain, ensuring that they could not be compromised.
According to Forbes, Bitfury generated $500 million in revenue in 2018.
3. Coinbase Global, Inc. (NASDAQ: COIN)
Revenue: $4 billion in H1 2021
Coinbase Global Inc, simply referred to as Coinbase, was founded in 2012 and is one the most well-known cryptocurrency exchanges in the United States. After its purchase of Tagomi in March, it also became the largest cryptocurrency exchange in the country.
Coinbase offers products for both retail and institutional investors. For the retail camp, it allows them to trade cryptocurrencies, cryptocurrency-backed assets, and a wallet allowing customers to access applications. For institutional investors, it provides a trading platform and specialist to deal with cryptocurrency. It also offers a stable coin backed by the United States Dollar, which allows users to trade this cryptocurrency faster than they could trade a dollar. Additionally, Coinbase offers its own debit Visa card for cryptocurrency transactions and payment service for merchants.
According to its financial disclosures, Coinbase earned $4 billion in revenue during the first half of this year according to its Form-10Q disclosure with the Securities and Exchange Commission.
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2. International Business Machines Corporation (NYSE: IBM)
Revenue: $3 billion in H1 2021
International Business Machines Corporation or IBM is one of the oldest American technology firms right alongside chip giant Intel. However, unlike Intel, which primarily offers hardware, IBM has diversified business to offer a host of services which include transaction processing platforms based on blockchain technology.
IBM, which lists down the revenue from its blockchain-based platforms under the “Transaction Processing Platform” heading in its financial statements, earned $3 billion from the sector during the first half of this year. This revenue comes despite persistent rumors that the company has failed to meet internal targets for the blockchain division.
1. Square, Inc. (NYSE: SQ)
Revenue: $6.2 billion in H1 2021
Square Inc. is a financial payments and services firm that was co-founded by Twitter co-founder Mr. Jack Dorsey and billionaire James McKelvey in 2010. While Square’s primary line of business at its inception, by the end of the second quarter of this year, the company has started to earn significant revenue from Bitcoin.
In its Form 10-Q for Q2 2021, Square revealed that its total revenue consisted of 64% of revenue from Bitcoin market price, active Bitcoin customers, and the growth in Bitcoin demand. By the end of June 2021, Square had earned a whopping $6.2 billion in revenue through Bitcoin, making for a 428% annual gain after the firm posted $1.1 billion Bitcoin revenue in the first half of 2020.
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