Block Inc. Expands Bitcoin Holdings to 8,692 BTC Amid Steady Accumulation Strategy and Revenue Growth
Main Idea
Block Inc. has increased its Bitcoin holdings to 8,692 BTC, valued at over $1.15 billion, and reported a Q2 revenue of $6.05 billion, with $2.14 billion from Bitcoin sales.
Key Points
1. Block Inc. expanded its Bitcoin holdings to 8,692 BTC, worth over $1.15 billion, after purchasing 108 BTC in Q2 2023.
2. The company's total revenue for Q2 was $6.05 billion, a 1.5% increase from Q1, with a gross profit of $2.54 billion.
3. $2.14 billion of Block Inc.'s Q2 revenue came from Bitcoin sales through Cash App.
4. Block shares saw a 6% increase in after-hours trading following the report.
Description
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$BTC
$116805.7
+1.80%
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