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Cryptocurrencies have been gaining popularity recently, and their trading exploded this year. While countries like China are clamping down on cryptocurrency transactions, financial service companies and exchanges seem to prepare for future crypto transactions. Recently, El Salvador became the first country to accept bitcoin as legal tender.
Here, we explore some of the cryptocurrency stocks listed in the US. Some of them are directly involved in cryptocurrency mining while some facilities buy and sell digital assets.
Marathon Digital Holdings, Inc. (NASDAQ: MARA)
The Las Vegas-based company mines cryptocurrencies. It is the main supplier of Bitcoin miners.
In May, Marathon produced 226.6 new Bitcoins and increased its Bitcoin holdings to around 5,518 with a fair market value of US$203.4 million. Marathon produced approximately 580.5 newly minted Bitcoins year to date as of June 1.
Marathon has a market value of US$2.80 billion. The stock is up 177 percent this year and returned 3262 percent in one year. Its share price rallied up to US$57.75 from a low of 85 cents during the 52-week period.
In the first quarter, Marathon revenue came in at US$9.2 million, compared to US$592,000 in the previous year’s quarter. The company recorded a net income of US$83.4 million, or 87 cents per share, against a net loss of US$1.1 million or 12 cents per share in the year-ago quarter.
READ MORE: How destructive is energy-intensive crypto mining?
Riot Blockchain Inc. (NASDAQ: RIOT)
The Colorado-based Bitcoin mining company produced 924 Bitcoin this year through May. It produced and held 2,000 Bitcoins as of May 31.
Riot Blockchain has US$3.00 billion in market value. The share price, which gained 89 percent year to date, soared 1369 percent in the one-year period. The stock traded between US$2.04 and US$79.50 in the 52-week.
Riot Blockchain’s first-quarter net income was US$7.5 million, compared with a net loss of US$4.3 million in the first quarter of 2020. Mining revenue grew 881.1 percent to US$23.2 million during the quarter.
In May, Riot Blockchain completed the acquisition of Whinstone U.S., which has a Bitcoin mining facility in Texas.
READ MORE: Marathon (MARA) & Riot Crypto Stocks Balloon With Bitcoin High
Source: Pixabay
Square, Inc. (NYSE: SQ)
Square’s Cash App lets its clients buy and sell bitcoins. Bitcoin revenue represents more than half of the company’s total net revenue.
The San Francisco-based company’s market cap totals US$101.49 billion. Its stock rose approximately 9 percent this year and surged 141 percent in the one-year period. The shares traded between US$98.93 and US$283.19 in the 52-weeks period.
In the first quarter, Square reported total net revenue of US$5.06 billion. Its revenue from bitcoin was US$3.51 billion. The company net income was US$39 million, or 8 cents per share, compared to US$105.9 million loss, or 24 cents per share in the first quarter of 2020.
READ MORE: Square, NetEase, & Fiverr: 3 Growth Stocks On Investors’ Radar
PayPal Holdings, Inc. (NASDAQ: PYPL)
The digital payments company allows its customers in the US to buy, sell and hold cryptocurrency directly through their account. In April, PayPal enabled the cryptocurrency services to its Venmo customers.
PayPal has a market capitalization of US$332.87 billion. The stock gained around 21 percent this year, while it returned 68 percent in one year. The share price fluctuated between US$164.29 and US$309.14 in the 52 weeks.
PayPal had reported a net income of US$1.10 billion, or 92 cents per share in the first quarter as revenue rose 31 percent year over year to US$6.03 billion. The company projects US$25.75 billion in full-year revenue, a growth of 20 percent.
READ MORE: PayPal, Square Ride High On Strong Digital Payments
Source: Pixabay
Coinbase Global Inc (NASDAQ: COIN)
Started in 2012, Coinbase owns the largest cryptocurrency exchange in the world. It has over 56 million verified users on its platform, and its quarterly traded volume stood at around US$335 billion.
The San Francisco-based company became public on NASDAQ through a direct listing in April and currently has a market value of US$57.9 billion. The stock is down approximately 40 percent since it started trading. Its share price has a 52-week high of US$429.54 and a low of US$208.
Coinbase reported revenue of US$1.8 billion in its first quarter and a net profit of US$771.5 million. The company added 13 million new users during the three months.
READ MORE: Coinbase rides the crypto boom to hit over US$1 billion in revenue
SOS Limited (NYSE: SOS)
SOS is a Chinese cryptocurrency mining company. It also provides blockchain-based data, technology and solutions to insurance and emergency rescue services. The company has teamed up with Niagara Development LLC to set up a joint venture in Wisconsin for cryptocurrency mining.
The company is valued at US$610 million on NYSE. SOS stock gained 145 percent year to date. It has a 52-week trading range of US$1.21 to US$15.88.
In 2020, SOS reported US$50.3 million in revenue. Its net profit totaled US$4.4 million during the year.
READ MORE: China intensifies crackdown on crypto mining industry
Source: Pixabay
CME Group (NASDAQ: CME)
CME Group is the largest financial derivatives exchange. It trades in asset class including Bitcoin, Micro Bitcoin and Ether futures.
The Illinois-based company has a market capitalization of US$77.52 billion. The stock returned around 15 percent year to date and 19 percent in the one-year period. It has a 52-week trading range of US$146.89 to US 221.82.
In the March quarter, CME Group had US$1.0 billion in revenue and US$574.8 million in net income.
READ MORE: Can Dogecoin make millennials rich? How much would it be worth by 2030?
Mastercard Incorporated (NYSE: MA)
Mastercard looks to play a big role in facilitating the buying and selling of cryptocurrency. It has tie-ups with Wirex, BitPay and LVL. Also, the company recently partnered with cryptocurrency platform Gemini to launch a credit card that provides rewards of up to 3 percent on bitcoin purchases.
New York-based Mastercard reported revenue of US$4.2 billion and net income of US$1.8 billion during its first quarter ended March 31.
The financial service company has US$366.80 billion in market value. The stock grew around 3 percent this year and 25 percent in the one-year period. In the 52-weeks, the shares traded in the range of US$281.20 to US$401.50.
