6 Biggest Blockchain Companies

NU, COIN, and CORZ Lead the 6 Biggest Blockchain Companies List

Reviewed by Julius Mansa
Fact checked by Kirsten Rohrs Schmitt

While Bitcoin and Ethereum dominate headlines, it’s the companies building the crypto infrastructure that are perhaps most poised to leave an indelible mark on the future of finance—and in your portfolio. Enter the era of blockchain behemoths, with NU Holdings Ltd. (NU), Coinbase Global (COIN), and Core Scientific Inc. (CORZ), leading a pack of six that stand at the forefront of this transformative technology.

These industry giants aren’t just riding the wave of crypto enthusiasm; they’re building the infrastructure decentralized finance needs to work and mining new bitcoins. From cryptocurrency exchanges processing billions in daily volume to firms developing blockchain products for enterprises, these companies are the biggest publicly traded companies in the U.S. or Canada, either directly or through American depositary receipts (ADRs), as ranked by the revenue as of mid-2024.

Key Takeaways

• Blockchain is the core database technology behind bitcoin and cryptocurrencies.
• Blockchain is now a major industry that has birthed several billion-dollar companies.
• One of the most successful and well-recognized blockchain companies is Coinbase, an online cryptocurrency broker with annual revenues of $6.29 billion in its financial year ended 2024.
• Associated companies include those mining hardware, investing, or providing exchange platforms.

What Is Blockchain?

Blockchains are distributed databases shared among the nodes of computer networks. They are best known for their role in cryptocurrencies like bitcoin, for maintaining a secure and decentralized record of transactions. They do so by guaranteeing the authenticity and security of a record of data. Companies within the industry include financial technology (fintech) companies, cryptocurrency miners, and manufacturers of blockchain technology.

#1 Nu Holdings Ltd (NU)

• Revenue: $8.27 billion
• Revenue (LY): $5.63 billion
• Net income: $1.97 billion
• Market capitalization (Market Cap): $57.84 billion (as of May 23, 2025)
• One-year trailing price return: 14.46% (as of Month End, April 30, 2025)
• Exchange: NYSE

NU specializes in providing digital banking services. One of its holdings, Nubank, has partnered with Fireblocks, a U.S.-based enterprise platform that manages digital asset operations and develops blockchain products.

Nu has made notable progress in expanding its clientele and revenue per customer and is the fourth-largest bank in Brazil in terms of members. It’s also growing in Mexico and Colombia. Despite operating in regions often perceived as risky, Nu Holdings has maintained profitability and has thus far had impressive growth. Shortly after the end of the first quarter of 2024, Nu Holdings announced that it had reached 100 million customers across Brazil, Mexico, and Colombia.

#2 Coinbase Global, Inc. (COIN)

• Revenue: $6.56 billion
• Revenue (LY): $3.11 billion
• Net income: $2.58 million
• Market cap: $67.03 billion (as of May 23, 2025)
• One-year trailing price return: -0.51% (as of Month End, April 30, 2025)
• Exchange: Nasdaq

Coinbase is the largest cryptocurrency exchange in the U.S. by trading volume. Coinbase offers a variety of products for both retail and institutional investors, including Coinbase Pro, Coinbase Wallet, and USD Coin. Founded by Brian Armstrong and Fred Ehrsam in 2012, Coinbase is a remote-first company and does not hold a headquarters location. They closed their original San Fransisco headquarters at the end of 2023.

The approval of spot bitcoin exchange-traded funds (ETFs) in the U.S. has boosted shares in Coinbase since it plays a crucial role as their custodian and prime broker. Coinbase has been embroiled in a legal battle with the SEC, which has accused the company of operating as an unregistered securities exchange. This legal issue poses risks to its future earnings and regulatory standing. However, in January 2025, Coinbase won a small victory in the appeals court.

#3 Core Scientific, Inc. (CORZ)

• Revenue: $510.67 million
• Revenue (LY): $502.4 million
• Net income: -$1.32 million
• Market cap: $3.18 billion (as of May 23, 2025)
• One-year trailing price return: 176.45% (as of Month End, April 30, 2025)
• Exchange: Nasdaq

Core Scientific is a crypto miner that also provides hosting services. It mines bitcoin on behalf of the company itself, while its hosting segment focuses on providing infrastructure support and services for third-party clients. Founded by Michael Jeffrey Levitt and Darin Feinstein in 2017, CORZ is based in Dover, Delaware.

#4 MicroStrategy Inc. (MSTR)

• Revenue: $463.46 million
• Revenue (LY): $496.26 million
• Net income: -1,166.66 million
• Market cap: $102.22 billion (as of May 23, 2025)
• One-year trailing price return: 256.90% (as of Month End, April 30, 2025)
• Exchange: Nasdaq

MicroStrategy is a prominent enterprise analytics and mobility software company. Soon, the firm is expected to launch MicroStrategy Orange, a decentralized identity product. As of the end of the first quarter of 2024, MSTR held 214,400 BTC. In July 2024, it announced a 10-for-one stock split.

#5 MARA Holdings, Inc. (MARA)

• Revenue (FY): $656.38 million
• Revenue (LY): $387.51 million
• Net income (FY): $541.25 million
• Market cap: $5.18 billion (as of May 23, 2025)
• One-year trailing price return: -16.75% (as of Month End, April 30, 2025)
• Exchange: Nasdaq

MARA is a major crypto mining firm. Established in 2010, the company is based in Fort Lauderdale, FL. Formerly known as Marathon Digital Holdings, Inc., the company changed its name in August 2024 to MARA. As of April 30, 2025, it held 48,237 BTC; the company did not sell any BTC in April 2025.

#6 Riot Platforms, Inc. (RIOT)

• Revenue (FY): $376.66 million
• Revenue (LY): $280.68 million
• Net income (FY): $109.40 million
• Market cap: $3.05 billion (as of May 23, 2025)
• One-year trailing price return: -28.39% (as of Month End, April 30, 2025)
• Exchange: Nasdaq

Riot Platforms, Inc. is a bitcoin mining company that provides specialized cryptocurrency mining computers. The firm operates across two segments: bitcoin mining and engineering. Founded in 1998 and went public in 2003, RIOT is headquartered in Castle Rock, Colorado.

How Do Blockchain Firms Make Money?

Blockchains themselves are essentially technologies, not entities that generate revenue directly. However, many companies have found ways to make money through transaction fees, block rewards, network services, initial coin offerings, token sales, consulting and development services, enterprise products and subscriptions, and staking.

Which Is the Most Powerful Blockchain?

“Powerful” could refer to standard metrics like transaction speed and throughput, network security, decentralization, developer activity, and adaptability. Some of the blockchains that are considered powerful include Bitcoin, Ethereum, Solana, Cardano, Polkadot, and Cosmos.

Which Is the Fastest Growing Blockchain?

Blockchain technology is rapidly evolving and expanding, with many platforms experiencing significant growth in user adoption, transaction volume, and developer activity. Some rapidly growing blockchains include Solana, Polygon, Avalanche, and Cardano. In 2023, Solana went from 2,500 to 3,000 developers working on its ecosystem, and its native token SOL recorded a 920% gain from January to December 2023, according to the company.

The Bottom Line

Nu, Coinbase, Core Scientific, MicroStrategy, MARA Holdings, and Riot Platforms have the highest revenues in the blockchain sector. Nu is expanding its cryptocurrency offerings in Brazil, working with Fireblocks to improve security. Coinbase operates a major bitcoin trading platform—the SEC argues it’s also an unauthorized securities exchange—and offers digital payment products for businesses.

Core Scientific provides digital mining and hosting services, along with other blockchain-related offerings. MicroStrategy is developing decentralized identity systems using the Bitcoin blockchain. MARA Holdings and Riot Platforms are significant cryptocurrency mining companies, also investing in blockchain infrastructure. The sector is seeing significant growth on the back of the SEC’s 2024 approval of spot crypto ETFs.