Crypto's mixed Q2 📊

Crypto firms are posting their quarterly results, and it's a mixed bag.

Author

Stephen Graves
August 02, 2024

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📝 What you need to know

Crypto firms are posted their quarterly results, and it’s a mixed bag. Bitcoin bull MicroStrategy reported a net loss of $102.6 million in Q2, but continues to maintain a “laser focus” on its Bitcoin strategy, accumulating more than $14 billion in BTC.

Despite its Q2 revenue dropping by 11% from the first quarter, Coinbase pulled in $36 million in net income, with the exchange pointing to “extraordinary strides in achieving regulatory clarity.”

Bitcoin miner Marathon, meanwhile, posted a $200 million loss in the second quarter, as the mining sector continues to deal with the aftershocks of this year’s Bitcoin halving.

MicroStrategy Reports Q2 Loss, Boosts Bitcoin Holdings by $11 Million

Despite a quarterly net loss of $102.6 million, MicroStrategy continues to focus on Bitcoin, and now holds more than $14 billion in BTC.

Coinbase Posts $1.4 Billion in Q2 Revenue, Claims Improving ‘Regulatory Clarity’

Coinbase quarterly transaction revenue was $781 million, down 27% from the first three months of 2024.

Marathon Digital Posts $200 Million Quarterly Loss Amid Bitcoin Mining Sector Woes

This year’s halving, coupled with increased global hash rates and equipment failures, greatly affected Marathon Digital's output, it said.

Grayscale Bitcoin Trust BTC Holdings Dropped 55% in First Half of 2024

Grayscale played a pivotal role in the approval of spot Bitcoin ETFs, but has seen its fund bleed assets as Wall Street titans push ahead.

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