Revenue

Bitcoin Miners Earn Record Hourly Revenue of $4 Million

Bitcoin Miners Earn Record Hourly Revenue of $4 Million

Bitcoin’s price rally is proving a windfall for the miners of the world’s biggest blockchain. Miners collected a record single-hour revenue of $4.06 million during the 60 minutes to 17:00 UTC on Thursday, according to data provided by the blockchain analytics firm Glassnode. Transaction fees accounted for more than $47,000 of the record hourly revenue. …

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January by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

January by the numbers: A look at crypto exchange volumes, open interest, and miner revenue

Quick Take Several metrics recorded record numbers in January. In many cases, January alone accounted for about 40-50% of total 2020 volume.  Total adjusted on-chain volume saw a very strong increase of 94.4% to a new all-time high of $528.8 billion in January. Adjusted on-chain volume of stablecoins increased by 73.1%, to a new all-time …

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BlockFi generated nearly $100 million in revenue during 2020

BlockFi generated nearly $100 million in revenue during 2020

The Block Research’s Ryan Todd released a deep-dive profile of crypto lending and depository startup BlockFi last week, which revealed the firm’s nearly $100 million in revenue for 2020. “According to company documents reviewed by The Block Research, BlockFi now has over $8 billion in total client balances (more than 30x assets on platform in …

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Voyager Digital Revenue Rises Over 1,000% on Increased Crypto Adoption

Voyager Digital Revenue Rises Over 1,000% on Increased Crypto Adoption

Publicly traded digital-asset brokerage Voyager Digital registered four-digit revenue growth in the fiscal year ended June 30, 2020. In an announcement Thursday, the Canada-based firm said revenue rose to roughly $1.1 million, marking a 1,159% rise from the previous fiscal year’s tally of $87,318. Other figures for the same period are also impressive: customer assets jumped …

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Over 40% of Ethereum mining revenue in August came from fees

Over 40% of Ethereum mining revenue in August came from fees

Ethereum miners generated $285.1 million in revenue in August, representing a month-over-month increase of 98.2% and a 25-month high, according to research from The Block. Last month, transaction fees on Ethereum increased significantly, fueled by the yield farming mania. Fees as a percentage of mining revenue reached an all-time high of over 40.5% of the …

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Square says Cash App generated $875 million in bitcoin revenue during Q2, posting $17 million in gross profit

Square says Cash App generated $875 million in bitcoin revenue during Q2, posting $17 million in gross profit

Square said Tuesday that it made $875 million in bitcoin revenue via its Cash App service during the second quarter of 2020.  The release — which came a day early stemming from what Square called an “early external access of the company’s quarterly financials” — also notes that Cash App generated $17 million in bitcoin …

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U.S. Internal Revenue Service inks deal with Coinbase for blockchain analytics software

U.S. Internal Revenue Service inks deal with Coinbase for blockchain analytics software

Public records show that the U.S. Internal Revenue Service has inked a deal with crypto exchange company Coinbase to use its Coinbase Analytics blockchain tracing software. The signing date is listed as July 15 on the Sam.gov database, which tracks contract offerings for U.S. agencies. The contract becomes effective on July 23 and lasts for …

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Crypto scammers see less revenue during coronavirus pandemic due to fallen prices: Chainalysis

Crypto scammers see less revenue during coronavirus pandemic due to fallen prices: Chainalysis

Cryptocurrency scammers may be taking advantage of coronavirus to invent new fraudulent narratives, but their profits have declined since the outbreak of the pandemic because of a drop in crypto market prices, according to blockchain analysis firm Chainalysis.  In an April 10 report by Chainalysis, researchers found that the coronavirus pandemic has triggered an increase in …

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