Public Companies Capture 16% of Blockchain Revenue Amid Market Decline

• •Public companies' blockchain revenue share increased to 16% in 2026 from 7% in 2022.
• •Overall blockchain revenue is projected to decline by 28% year-over-year to about $100 billion.
• •Broader economic activities now account for 30% of total blockchain revenue, surpassing infrastructure revenue.

A report by 1kx reveals that public companies have increased their share of blockchain revenue from 7% in 2022 to 16% in 2026, despite an overall decline in blockchain revenue projected to fall 28% year-over-year to approximately $100 billion. This growth is attributed to institutional adoption and new stock market listings, such as Circle, which went public in 2025. The report indicates that the ten largest publicly traded companies doubled their blockchain-related revenue over the past three years. Coinbase and Circle generated about $3.3 billion in combined revenue in the first half of 2026, while publicly traded Bitcoin miners earned around $2 billion. Traditional financial firms contributed an additional $1.1 billion. Notably, revenue from broader economic activities surpassed blockchain infrastructure revenue for the first time in Q3 2026, reaching approximately $5.3 billion. The report also highlights that revenue concentration remains high, with the six largest companies accounting for 50% to 60% of the total revenue.