News

Jack Dorsey’s Square Reports $65M In Bitcoin Revenue

Jack Dorsey’s mobile payments company, Square, has reported an impressive $65.5 million in bitcoin revenue this quarter, an-time high. The information was revealed in a letter to shareholders.

The Q1 2019 shareholders letter describes the revenue generated from Square’s services, the net revenue of which has grown by 43%. It also highlights the launch of the Square Online Store, Square Invoices, and Square Stand, and Square Reader.

The total net revenue for Q1 2019 is $959 million, while net income for the quarter stands at a loss of $38 million. The total profits gained from bitcoin transactions were roughly $830,000, as the total bitcoin costs amounted to roughly $64.7 million.

Square lets users buy bitcoin through its Cash app, which is functional in all 50 states of North America.

Abhimanyu Krishnan

Abhimanyu is an engineer on paper but a writer by living. To him, the most celebratory aspect of blockchain technology is its democratic nature. While he’s hodling, he can be found reading a good book or making the local dogs howl with the sound of his guitar playing.

Share
Published by
Abhimanyu Krishnan

Recent Posts

Is A Silicon City Tech Giant Behind BlockDAG Network As Its $11.4M Presale Outcasts Floki Inu Price Surge Amid BOME Fluctuation

With Floki Inu's next bull run approaching, investors are closely monitoring its innovative token burn…

7 months ago

BlockDAG Becomes Top Crypto Investment Choice with $9.9M Presale, Beating Fantom & Apecoin

BlockDAG (BDAG) has continued to stand out with its innovative presale strategy, offering early investors…

7 months ago

Render and Dogecoin Price Predictions Defy Expectations As BlockDAG Emerges as the Highest ROI Crypto for 2024

As we venture into 2024, the crypto market is brimming with potential for unprecedented growth.…

7 months ago

Solana’s 20% Trading Spike Sparks BlockDAG Presale Interest While Memeinator Presale Reaches Edge

This analysis contrasts the flourishing momentum of BlockDAG coin's presale against the backdrop of the…

8 months ago

CryptoGames Review: Bitcoin and Altcoin Casino

Ever wondered what it is like to experience the extravagant casino vibes in the comfort…

3 years ago