Three publicly traded crypto‑related companies are scheduled to announce their third‑quarter financial results this week, giving investors a view of how different business models are faring in the current market environment.
Block
Block, which operates Cash App, Square and a suite of Bitcoin‑related products, will report after the U.S. stock market closes on Tuesday, November 3. Analysts expect revenue of about $6.63 billion and earnings of $1.02 per share. In the second quarter, Block posted $72 million in Bitcoin ecosystem gross profit, a 31 % decline from the prior year, citing lower transaction fees and changing Bitcoin trading activity. For the third quarter, Bitcoin‑related revenue is projected at roughly $1.73 billion, down 12.2 % year over year. Observers will watch Bitcoin revenue, profit margins and the valuation impact of Block’s Bitcoin holdings.
Circle
Circle, the issuer of the USDC stablecoin, will release its results before markets open on Wednesday, November 4. Forecasts call for revenue of approximately $797 million and earnings of $0.40 per share. The company’s earnings are closely tied to interest income from the assets backing USDC. In the prior quarter, Circle reported reserve income of $668 million, a 5 % year‑over‑year increase, but its reserve return rate fell to about 3.5 %, limiting the benefit of growing USDC circulation. The report will reveal whether expanding USDC usage can offset the pressure from lower interest rates.
Riot Platforms
Riot Platforms, a Bitcoin mining firm, will hold its earnings call on November 4. Analysts anticipate quarterly revenue of $161.46 million, including $112.85 million from mining operations, and a loss of $0.24 per share. The company faces profitability challenges linked to electricity costs, mining difficulty and infrastructure spending. Riot’s second‑quarter revenue was $174.24 million. The upcoming results will shed light on mining margins, production costs and any diversification beyond pure mining activity.
Why the earnings matter
These reports come as investors reassess crypto‑related businesses after a period of market volatility. Bitcoin price movements affect all three firms, but the financial impact differs: Block derives income from payment activity and Bitcoin transactions, Circle from stablecoin circulation and reserve yields, and Riot from mining economics. The earnings will help gauge the resilience of each model and provide broader insight into the health of publicly traded crypto companies.
