Coinbase adds $300M Bitcoin as it pushes ‘Everything Exchange’ vision
Coinbase recorded another profitable quarter with $432.6 million in net income in Q3 on the back of $1.9 billion in revenue, while Coinbase’s Bitcoin holdings rose by 2,772 BTC.
Coinbase’s Bitcoin stash grew by 2,772 BTC during the third quarter as it doubled down on its Bitcoin strategy and continued work to become an “Everything Exchange.”
Coinbase’s Bitcoin (BTC) holdings have now reached 14,548 BTC, valued at $1.57 billion, according to its Q3 report on Thursday. Meanwhile, net income increased over fivefold to $432.6 million year-on-year, and total revenue rose to $1.9 billion, up 55% from a year ago.
This was bolstered by transaction revenue, which climbed to $1.05 billion, while subscription revenue — including stablecoin revenue and blockchain rewards — rose 34.3% year-on-year to $746.7 million.