Block's 2Q BTC Revenue Hits $2.61 Billion, a 6% YoY Increase

IconCryptoNewsTerminal Staff01 Aug, 2024

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Block's 2Q BTC Revenue Hits $2.61 Billion, a 6% YoY Increase

Block, the blockchain and mobile payment giant, recently reported a 9% year-over-year increase in its Bitcoin revenue during the second quarter. The company's Bitcoin revenue reached $2.61 billion for the period, which ended on June 30. Block's Bitcoin revenue growth is a positive sign for the cryptocurrency industry, as it indicates that more people are using Bitcoin for everyday transactions. As of June 30, Block held 8,211 BTC, valued at approximately $515 million. Block's Bitcoin revenue is a significant portion of its overall revenue. In the second quarter, the company's total revenue was $4.62 billion, which means that Bitcoin revenue accounted for about 56% of the total. This shows that Block is heavily invested in Bitcoin and believes in its long-term potential. ```

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