Odaily Planet Daily News The payment company Block Inc. founded by Jack Dorsey announced that the gross profit in the second quarter of 2023 will be 1.87 billion US dollars, a year-on-year increase of 27%. The company said $2.4 billion of its $5.5 billion in net income in the second quarter came from bitcoin. The company (formerly Square) saw a 34% increase in Bitcoin revenue, which refers to the total sales of cryptocurrencies sold to customers, compared to the same period in 2022.
There were also no impairment losses on the company's holdings of Bitcoin for the three and six-month periods ending June 30, 2023, which now total $245 million. (decrypt)