Travala’s 2021 Q3 Report Shows Crypto Adoption ‘Offset the Negative Impact of the Pandemic’

October 29, 2021 Bitcoin.com

Hash rate and difficulty rebound shows miners have recovered from China exodus

October 5, 2021 Coin Telegraph

Bitcoin

Bitcoin mining profitability is up 275% since before the May 2020 halving.

Bitcoin mining operations are on the path to full recovery following the most dramatic short-term disruption in network history earlier this year, and miners are reaping the rewards in revenues.

In its Oct. 4 Week on Chain report, on-chain analytics provider Glassnode reports that Bitcoin hashrate has largely recovered despite 50% of the network’s hashing power going offline in May following China’s crackdown on the sector. Hash rate measures the total computational resources of a Proof-of-Work network.

Glassnode asserts that both hash rate and mining difficulty — which measures competition among miners seeking to solve the network’s next block — are both on a “consistent path to recovery.” Cointelegraph reported that difficulty slumped by 28% in early July.

Having increased 39% since late July, mining difficulty has nearly returned to its pre-China exodus levels, with an additional upward adjustment expected to take place this week.

Glassnode also reported that the difficulty ribbon has posted its strongest reversal since December 2018.

Despite block rewards having been slashed by 50% from 12.5 BTC to 6.25 BTC in May 2020 halving event, mining profitability has increased significantly since.

Glassnode noted that the current mining profitability of $40 million daiy is up 275% since before Bitcoin’s May 2020 halving, and has increased by roughly 630% compared to June 2020’s lows of roughly between $6 million and $8 million.

“Despite dramatic shifts in the mining market, multiple deep price corrections, and a halving event in May 2020, the Bitcoin block reward value continues to rise, creating incentives for the market to adapt, innovate and recover,” the report added.

Crypto Exchange Bitbay Passes Audit Under Estonia’s Tougher New Regulations

October 1, 2021 Bitcoin.com

ETH 2.0 Contract Exceeds 7.4 Million Ether, Close to $30 Billion Locked, Liquid Staking Pools Grow

September 6, 2021 Bitcoin.com

62% of Robinhood’s Q2 crypto revenue was from Dogecoin trading

August 19, 2021 Coin Telegraph

Coin Telegraph

Around 41% of Robinhood’s quarterly revenues were generated by crypto trading.

Popular retail trading app, Robinhood, has revealed crypto trading surged in popularity on the platform and now represents 41% of its revenue.

According to its second-quarter financial results published Aug. 18, the firm generated $233 million from crypto trading services for the quarter, up from $5 million for the entirety of 2020. More than 60% of funded Robinhood accounts traded digital assets during Q2 2021.

With early 2021 witnessing the speculative dog-token trading frenzy, a whopping 62% of Robinhood’s crypto revenue was derived from Dogecoin trades.

The earnings report is the first released by Robinhood since it became a public company. Vlad Teev, co-founder and CEO of Robinhood, stated:

“We’re encouraged by the number of people who are accessing the financial system for the first time through Robinhood.”

Revenue tagged $565 million for the quarter overall, a 131% increase compared to Q2 2020’s $244 million. Monthly active users more than doubled year-over-year (YoY) from 10.2 million to 21.3 million, while funded accounts increased by 130% over the same period.

The value of assets custodied by Robinhood also tripled YoY to tag $102 billion.

Despite the surging crypto revenue, Robinhood reported an overall loss of $464 million for Q2. However, the losses are attributed to accounting adjustments pertaining to the fluctuating warrants and notes held by the company.

ETH 2.0 Contract Exceeds 6 Million Ether, Data Shows Ethereum Outperformed BTC in Q1 and Q2

July 2, 2021 Bitcoin.com

Nvidia Makes $155 Million From Crypto Mining Chips in Fiscal Q1

May 27, 2021 Bitcoin.com

Voyager Digital sees 16X increase in quarterly revenue, first operating profit

May 26, 2021 Coin Telegraph

Coin Telegraph

The Canadian trading and yield app recorded $60 million in revenue for Q1, 2021.

Crypto asset trading firm Voyager Digital has announced financial results for the first quarter of 2021, and they are impressive.

The retail crypto trading and yield platform reported another record quarter, with momentum continuing into the current quarter. Total revenue for the period came in at $60.4 million, more than a 16x increase from $3.6 million over the previous quarter.

The company ended the quarter with an operating profit of $30 million and an adjusted working capital of $197 million. It was the firm’s first-ever quarter of operating profit, Voyager said in an announcement.

Trading volumes have also surged in 2021, leading to a massive revenue boost for the firm. Q1 saw $5 billion of principal volume traded compared to $350 million of principal value traded in the previous quarter.

Newly funded accounts in May have already surpassed the whole month of April, with currently 1.6 million verified users according to Nasdaq.

Voyager's CEO and co-founder, Steve Ehrlich, stated that the platform’s leading altcoins and interest-yielding asset offerings have gained significant market share.

“Our focus on a wide range of coins has contributed to a long-term economic model with fiscal third-quarter operating margins increasing to 50%. Given our success to date, we anticipate that our operating margin should continue to scale in future periods.”

The Voyager app currently supports the trading of over 50 crypto assets. Ehrlich added that the platform saw exponential adoption of cryptocurrencies as a recognized and investable asset class in March, which translated into significant growth for Voyager.

During the first three months of 2021, Voyager continued to make significant upgrades to its systems infrastructure, and staff with a focus on platform security, scalability, and customer support.

Earlier this year, Voyager’s native token, VGX, saw explosive growth following a number of mergers and acquisitions for the Canadian company. At the time of writing, Voyager Token was trading flat on the day at $2.54 but had lost 23.4% over the past seven days in the market slump.

Coinbase Shares Down 27%, $1.2B Convertible Debt Deal Announced, Shareholder Letter Says ‘Competition Increasing’

May 18, 2021 Bitcoin.com

Ethereum’s Q1 Stats Report Highlights Blockchain’s ‘Ultra Sound’ Financial Growth in 2021

May 17, 2021 Bitcoin.com

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