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REVENUE
9 Months Ended
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,
2021202020212020
Revenue from Contracts with Customers:
Transaction-based revenue$1,297,040 $925,294 $3,484,245 $2,365,967 
Subscription and services-based revenue636,841 430,010 1,793,308 1,032,168 
Hardware revenue37,255 27,294 109,769 67,291 
Bitcoin revenue1,815,662 1,633,764 8,051,026 2,815,318 
Revenue from other sources:
Subscription and services-based revenue57,929 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,
2021202020212020
Deferred revenue, beginning of the period$59,501 $51,549 $51,804 $44,331 
Deferred revenue, end of the period58,684 53,166 58,684 53,166 
Deferred revenue arising from business combination1,068 800 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