Gross profit of the Bitcoin ecosystem for Block ($XYZ), down 50% year-over-year
Original headline전년 대비 50% 감소한 블록($XYZ) 비트코인 생태계 매출총이익
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Block’s Cash App gross profit rose 27% year over year in Q3 2026, while gross profit from its Bitcoin (BTC) ecosystem fell 50%, according to the shareholder letter filed with the SEC. Cash App recorded 60 million monthly transacting accounts in September, and quarterly gross profit reached $2.07 billion. Block head and board chair Jack Dorsey said the company is using Bitcoin and stablecoins as vehicles for Cash App expansion, though the letter did not break out their separate contribution to results. The divergence matters because it shows Block’s core Cash App business growing even as its Bitcoin-related revenue base contracts. Investors will watch whether Bitcoin and stablecoin initiatives begin contributing measurable gross profit in coming quarters.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
Block Inc, Cash App, Bitcoin (BTC), Jack Dorsey, SEC
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