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Nearly Half of Block's Q2 Revenue Came From Bitcoin


Block Inc, formerly known as Square, reported a gross profit of $1.87 billion in its second quarter of 2023, with $2.4 billion of its $5.5 billion net revenue coming from Bitcoin. The company saw a 34% increase in Bitcoin revenue compared to the same period in 2022. Despite a dip in prices, Block's Cash App business generated $1.16 billion in Bitcoin revenue, a 39% increase from the previous year
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