Block Inc. – DIGIT INFO

Block’s Q4 Bitcoin revenue down 7% on crypto price decline

Block Inc. outperformed analyst expectations and saw its share price jump in after-hours trading, but its Bitcoin revenue dipped due to price declines.

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Close to 60,000 BTC Erased From Bitcoin Treasuries in 9 Months, 4 Entities Hold More Than 100K BTC

During the last two years, a number of public and private companies, exchange-traded products (ETPs), and countries have added bitcoin to their balance sheet. However, during the last nine months of 2022, the number of bitcoin stored in these types of treasuries dropped by 57,481 bitcoin, worth around $1.1 billion using today’s exchange rates. $1.1 […]

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Jack Dorsey-led Block posts $1.5B in Q2 profits, BTC revenue down

Block Inc. posted $1.47B worth of profit in Q2 but BTC trading services profit only accounted for $41 million of that figure, with the firm citing price volatility and a lack of consumer demand.

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Bitcoin Treasuries Records Show $2.1 Billion in BTC Was Erased From Balance Sheets

During the 12 months, public companies, private companies, exchange-traded funds, and even countries have added bitcoin to their balance sheets. As of July 17, 2022, the aforementioned types of entities hold approximately 1,325,396 bitcoins worth $27.84 billion today. However, the number of coins stored in bitcoin treasuries has dropped since June 5, 2021, by approximately […]

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The more you know about Bitcoin, the more optimistic you are: Block survey

Over 9,500 people around the world were surveyed for Block’s 2022 Bitcoin report which showed that more optimistic individuals possessed a greater self-reported knowledge level of the crypto.

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Cash App Introduces Paid in Bitcoin, BTC Roundup and Lightning Network Services

At the Bitcoin 2022 conference in Miami, Block, Inc., formerly Square, Inc., announced three new bitcoin services for the company’s mobile payment platform. The mobile payment platform Cash App will feature a “paid in bitcoin” service that allows users to auto-invest their work pay into bitcoin. Cash App Adds 3 New Bitcoin Services Jack Dorsey’s […]

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Bitcoin Miner Hive to Purchase Intel Mining Chips, Firm Reveals a 100 MW Deployment Deal in Texas

On March 7, the publicly-listed mining firm Hive Blockchain Technologies announced the company inked a deal with Intel to purchase new ASIC mining chips. Additionally, Hive has formed an agreement with an original design manufacturer (ODM) and a non-binding letter of intent with Compute North. Hive said the company plans to deploy 100 MW of […]

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Fast-Food Chain Shake Shack Trials Bitcoin Rewards for Customers Using Cash App

The American fast-food restaurant chain Shake Shack is giving bitcoin rewards to customers leveraging Cash App’s debit card payment rail, Cash Card. According to Shake Shack, participants will get 15% of their purchase back in the form of bitcoin, and the crypto promotion will last until mid-March. Shake Shack Experiments With Bitcoin Trial to Lure […]

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Jack Dorsey’s Payments Company Is ‘Officially Building an Open Bitcoin Mining System’

In mid-October 2021, Twitter founder Jack Dorsey revealed the payments firm Block Inc. (formally Square) was considering joining the bitcoin mining industry. Three months later, Dorsey tweeted that his firm was “officially building an open bitcoin mining system.” The Block’s Hardware General Manager: ‘We See Bitcoin Mining as a Long-Term Need for a Future That […]

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