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A Blockchain is a digital ledger of transactions distributed across a computer network. Each time there’s a transaction, it is logged on the network and appears in every participant’s ledger. The important aspect of this system is that it’s decentralised, meaning there’s no financial institution, such as a bank, acting as a middleman between financial transactions. A blockchain tech firm, Marathon mines cryptocurrencies.
In its most recent quarterly report, Marathon reported a US$9.2 million in total revenue for the quarter, achieving a yearly return of a massive 4000%. Marathon currently owns over 2000 Bitcoin miners and is the first North American enterprise to adhere to anti-money laundering.
This factor could well inspire investment as it sets it apart from its competitors. Mastercard (NYSE:MA) has been a leader in payment processing for many years and with the rise of Covid enforced lockdowns, the move away from cash payments have given even more rise to companies like MasterCard and Visa.
In 2019, Mastercard announced a partnership with blockchain technology company R3 to develop a new cross-border payment system in an effort to create faster payment infrastructure with Mastercard-supported banks. Riot Blockchain is an expanding Bitcoin mining company.
Although Bitcoin mining has come under a lot of heat lately, primarily due to tech-billionaire Elon Musk and his decision last month to cease Bitcoin payments for his company’s Tesla vehicles. He explained the reason for the decision was due to the energy-consuming mining practices relating to Bitcoin and its subsequently harmful impact on the environment.
