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| Company | Headquarters | Sector | Stock Price | Enterprise Value | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Coinbase | United States of America | Blockchain & Crypto, Electronic Trading, Investment Brokerage, Wealth Solutions | $277 | $68.7B | 9.3x | 23.0x |
| Strategy | United States of America | BI & Analytics Software, Productivity Software, Blockchain & Crypto, Asset Management | $188 | $68.1B | 145.7x | 1830.0x |
| Block | United States of America | Blockchain & Crypto, FinTech Infrastructure, Payment Service Providers, Payments POS, BNPL | $61 | $31.6B | 1.3x | 9.3x |
| Circle | United States of America | Blockchain & Crypto | $86 | $19.1B | N/A | N/A |
| IREN | United States of America | Blockchain & Crypto | $44 | $12.6B | 16.0x | 31.3x |
| MARA Holdings | United States of America | Blockchain & Crypto | $12 | $7.5B | 8.0x | 22.5x |
| Cipher Mining | United States of America | Blockchain & Crypto | $19 | $7.2B | 29.4x | 63.4x |
| TeraWulf | United States of America | Blockchain & Crypto | $14 | $6.4B | 36.0x | 146.8x |
| Riot Platforms | United States of America | Blockchain & Crypto | $16 | $6.4B | 9.9x | 11.1x |
| Bullish | United States of America | Blockchain & Crypto | $46 | $5.9B | N/A | N/A |
| Core Scientific | United States of America | AI Chips & Hardware, Data Centers, Blockchain & Crypto | $17 | $5.8B | 14.7x | 76.7x |
| Hut 8 | United States of America | Blockchain & Crypto | $40 | $4.7B | 19.4x | 17.6x |
| Bitdeer | United States of America | Blockchain & Crypto, Data Centers | $13 | $3.6B | 6.1x | 57.0x |
| Cleanspark | United States of America | Blockchain & Crypto | $14 | $3.5B | 4.4x | 10.0x |
| American Bitcoin | United States of America | Blockchain & Crypto | $2 | $2.4B | 116.6x | N/A |
| Coincheck Group | United States of America | Blockchain & Crypto | $5 | $1.1B | 0.4x | 37.4x |
| Antalpha Platform Holding | United States of America | Blockchain & Crypto | $9 | $1.1B | N/A | N/A |
| Bit Digital | United States of America | Blockchain & Crypto | $2 | $621M | 5.5x | 4.1x |
| Prairie Operating Co. | United States of America | Blockchain & Crypto | $2 | $518M | 2.0x | 3.4x |
| BitFuFu | United States of America | Blockchain & Crypto | $3 | $508M | 1.1x | 5.7x |
| Exodus Movement | United States of America | Blockchain & Crypto | $14 | $369M | 3.0x | 18.7x |
| Bakkt | United States of America | Blockchain & Crypto, Loyalty & Coupons | $15 | $302M | 0.1x | N/A |
| Wewards | United States of America | Sales & Marketing Automation Software, Blockchain & Crypto | $2 | $237M | N/A | N/A |
| ALT5 Sigma | United States of America | Financial Services Software, Blockchain & Crypto, FinTech Infrastructure | $2 | $235M | N/A | N/A |
| Fold Holdings | United States of America | Blockchain & Crypto | $3 | $225M | 7.0x | -8.1x |
| Amber International | United States of America | Blockchain & Crypto | $2 | $144M | 2.2x | N/A |
| Bitcoin Depot | United States of America | Blockchain & Crypto, Payments Infrastructure | $1 | $117M | 0.2x | 2.1x |
| The9 | United States of America | Blockchain & Crypto | $7 | $112M | N/A | N/A |
| Soluna Holdings | United States of America | Blockchain & Crypto | $2 | $96.0M | N/A | N/A |
| Metalpha Technology Hldgs | United States of America | Blockchain & Crypto | $3 | $93.3M | N/A | N/A |
| BTCS | United States of America | Investment Brokerage, Electronic Trading, Blockchain & Crypto | $3 | $87.8M | 6.7x | N/A |
| Greenidge Generation | United States of America | Blockchain & Crypto | $2 | $64.3M | 1.1x | N/A |
| Surgepays | United States of America | Telecom Service Providers, Blockchain & Crypto | $2 | $46.7M | 0.7x | -2.6x |
| Mawson Infrastructure Group | United States of America | Blockchain & Crypto | $5 | $30.6M | 0.5x | N/A |
| Hyperion DeFi | United States of America | Blockchain & Crypto | $4 | $29.5M | N/A | N/A |
| Bit Origin | United States of America | Blockchain & Crypto | $0 | $29.4M | N/A | N/A |
| BTC Digital | United States of America | Blockchain & Crypto, Electronic Equipment | $2 | $4.8M | 0.4x | 4.8x |
| AGM Group Holdings | United States of America | Blockchain & Crypto, Electronic Equipment | $3 | $4.4M | N/A | N/A |
| Arax Holdings | United States of America | Blockchain & Crypto | $0 | $2.4M | N/A | N/A |
| Phunware | United States of America | Blockchain & Crypto, Loyalty & Coupons | $2 | -$59.1M | -24.3x | 3.8x |
| Ebang | United States of America | Blockchain & Crypto, Electronic Equipment | $4 | -$190M | N/A | N/A |
Valuation multiples as of last 12 months (LTM). Stock prices as of December 5, 2025. Financial data powered by Morningstar and FactSet.
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