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REVENUE | 9 Months Ended
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Sep. 30, 2021
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE The following table presents the Company's revenue disaggregated by revenue source (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Revenue from Contracts with Customers: |  |  |  |  |  |  |
Transaction-based revenue | $ | 1,297,040 |  |  | $ | 925,294 |  |  | $ | 3,484,245 |  |  | $ | 2,365,967 |
Subscription and services-based revenue | 636,841 |  |  | 430,010 |  |  | 1,793,308 |  |  | 1,032,168 |
Hardware revenue | 37,255 |  |  | 27,294 |  |  | 109,769 |  |  | 67,291 |
Bitcoin revenue | 1,815,662 |  |  | 1,633,764 |  |  | 8,051,026 |  |  | 2,815,318 |
Revenue from other sources: |  |  |  |  |  |  |
Subscription and services-based revenue | 57,929 |  |  | 17,512 |  |  | 144,321 |  |  | 57,864 |
Total net revenue | $ | 3,844,727 |  |  | $ | 3,033,874 |  |  | $ | 13,582,669 |  |  | $ | 6,338,608 |
The deferred revenue balances were as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Deferred revenue, beginning of the period | $ | 59,501 |  |  | $ | 51,549 |  |  | $ | 51,804 |  |  | $ | 44,331 |
Deferred revenue, end of the period | 58,684 |  |  | 53,166 |  |  | 58,684 |  |  | 53,166 |
Deferred revenue arising from business combination | 1,068 |  |  | 800 |  |  | 6,448 |  |  | 800 |
Revenue recognized in the period from amounts included in deferred revenue at the beginning of the period | $ | 25,867 |  |  | $ | 17,560 |  |  | $ | 40,293 |  |  | $ | 33,885 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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