{"id":58368,"date":"2022-02-25T14:24:42","date_gmt":"2022-02-25T12:24:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58368"},"modified":"2025-09-04T16:25:35","modified_gmt":"2025-09-04T13:25:35","slug":"block-nets-1-96-billion-from-bitcoin-sales-in-the-quarter","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/block-nets-1-96-billion-from-bitcoin-sales-in-the-quarter\/","title":{"rendered":"Block nets $1.96 billion from bitcoin sales in the quarter"},"content":{"rendered":"<p>In Q4 2021, Block (<a href=\"https:\/\/forklog.com\/en\/news\/square-to-rename-to-block-as-it-focuses-on-blockchain-projects\">formerly Square<\/a>) revenue from selling bitcoin via the Cash App totaled $1.96 billion, delivering gross profit of $46 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Our Q4 and full-year 2021 earnings are now available. <a href=\"https:\/\/twitter.com\/search?q=%24SQ&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SQ<\/a> <a href=\"https:\/\/t.co\/oGcnRuhvWV\">https:\/\/t.co\/oGcnRuhvWV<\/a><\/p>\n<p>\u2014 Block Investor Relations (@BlockIR) <a href=\"https:\/\/twitter.com\/BlockIR\/status\/1496965836388528142?ref_src=twsrc%5Etfw\">February 24, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Total revenue for the period reached $4.08 billion \u2014 up 29% year on year.<\/p>\n<p>In 2021 Block&#8217;s revenue rose 86% to $17.66 billion. The company posted a gross profit of $4.42 billion. The figure rose by 62%.<\/p>\n<p>However, net income for the year amounted to $166 million, of which $77 million came in Q4.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/-Nvrd6GPzfWZOFDclC9MgljDCYOLWUms3iuHLout7oR4cI1otvDShoDTkjqTsZZpay0h6BqT1K9CasDGY5SYUfsvcKQaQn2Bi18-bvCj07ECToJk45Jtr1RTIvDrDc9GrTfoh4W9\" alt=\"Block \u043f\u043e\u043b\u0443\u0447\u0438\u043b\u0430 \u043e\u0442 \u043f\u0440\u043e\u0434\u0430\u0436\u0438 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 $1,96 \u043c\u043b\u0440\u0434 \u0437\u0430 \u043a\u0432\u0430\u0440\u0442\u0430\u043b\"\/><figcaption>Data: Block.<\/figcaption><\/figure>\n<p>The main drivers of Block&#8217;s financial growth were the Cash Card offering and the payment services for merchants in the Square ecosystem.<\/p>\n<p>The report also notes that the expansion of the company&#8217;s product offerings was aided by the <a href=\"https:\/\/forklog.com\/en\/news\/square-to-acquire-afterpay-for-29-billion\">acquisition of Australian buy-now-pay-later service Afterpay<\/a>.<\/p>\n<p>Earlier in the third quarter of 2021, Block earned <a href=\"https:\/\/forklog.com\/en\/news\/squares-bitcoin-sales-gross-profit-in-q3-totalled-42-million\">$42 million in profit<\/a> from selling bitcoin via Cash App.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In Q4 2021, Block ({{AOPEN_1}}formerly Square{{ACLOSE_1}}) revenue from selling bitcoin via the Cash App totaled $1.96 billion, delivering gross profit of $46 million.<\/p>\n","protected":false},"author":1,"featured_media":58369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1533,1534],"class_list":["post-58368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cash-app","tag-square"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=58368"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58368\/revisions"}],"predecessor-version":[{"id":58370,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58368\/revisions\/58370"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/58369"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=58368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=58368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=58368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}