{"id":82629,"date":"2023-08-04T11:57:42","date_gmt":"2023-08-04T08:57:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82629"},"modified":"2025-09-12T06:13:13","modified_gmt":"2025-09-12T03:13:13","slug":"block-earns-2-39-billion-from-bitcoin-sales-in-the-second-quarter-of-2023","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/block-earns-2-39-billion-from-bitcoin-sales-in-the-second-quarter-of-2023\/","title":{"rendered":"Block earns $2.39 billion from bitcoin sales in the second quarter of 2023"},"content":{"rendered":"

In the second quarter of 2023, Block (\u0440\u0430\u043d\u0435\u0435 Square<\/a>)\u2019s revenue from selling bitcoin through the Cash App \u0441\u043e\u0441\u0442\u0430\u0432\u0438\u043b<\/a> $2.39 billion. The operations generated gross profit of $44 million for the payments company.<\/p>\n

Compared with the same period<\/a> in 2022, results rose by 33.5% and 7.3%, respectively.<\/p>\n

In January\u2013March, revenue from selling the first cryptocurrency amounted to $2.2 billion <\/a>.<\/p>\n

\n

“The year-on-year improvement in momentum was driven by an increase in the number of bitcoins sold, which offset the decline in its market price,” according to the letter to shareholders.<\/em><\/p>\n<\/blockquote>\n

The company posted a net loss of $123 million with gross profit of $1.87 billion.<\/p>\n

Block did not revalue its bitcoins. As of June 30, its holding in the first cryptocurrency was valued at $245 million. The figure was $142 million above the carrying value of the investments after accounting for accumulated impairment losses.<\/p>\n

In October 2022, Cash App users gained the ability<\/a> to send and receive bitcoin through the Lightning Network<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the second quarter of 2023, Block’s (formerly Square) revenue from selling bitcoin through the Cash App amounted to $2.39 billion. The transactions generated gross profit of $44 million for the payments company.<\/p>\n","protected":false},"author":1,"featured_media":82630,"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-82629","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":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82629","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=82629"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82629\/revisions"}],"predecessor-version":[{"id":82631,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/82629\/revisions\/82631"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/82630"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=82629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=82629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=82629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}