Jack Dorsey’s crypto company sees surprising profit jump

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Jack Dorsey’s crypto company sees surprising profit jump originally appeared on TheStreet.

Block Inc., founded by Jack Dorsey, has added 108 Bitcoin to its corporate treasury in the second quarter, raising its total to 8,692 BTC.

According to a recent filing, the acquisition had a cost basis of $11 million, and the company plans to invest in more Bitcoin in the future.

With the price of Bitcoin presently trading near $117,000, Block's investment in Bitcoin is now valued at approximately $1.15 billion.

For the quarter ending June 30, Block announced revenue of $6.05 billion, a 1.5% increase over revenue of $5.96 billion in the first quarter. Gross profit, tallying $2.54 billion, was an 8.2% increase over the gross profit of $2.33 billion.

Amrita Ahuja, the Chief Financial Officer, spoke to CNBC, saying the company has "outperformed [their] own guidance on gross profit."

The company generated $2.14 billion in revenue and $66 million in gross profit from Bitcoin sales through its Cash App, a digital wallet for American consumers.

Cash App now has $218 billion in peer-to-peer volumes, $183 billion in commerce volumes, and 8 million engaged customers with a $250 annualized Average Revenue Per User (ARPU), said Ahuja.

Join the discussion with CryptoWendyO on Roundtable here.

In 2020, under CEO Jack Dorsey, started buying Bitcoin. However, Block's Bitcoin purchases differ significantly from MicroStrategy's large, debt-financed acquisitions.

Over time, the company has gradually increased its Bitcoin holdings, primarily treating them as a hedge against fiat-born inflation. The company recorded a gain of $212.2 million from the remeasurement of Bitcoin holdings, relative to a loss of $70.1 million in the prior year comparative period.

Story ContinuesThe company aims to establish Bitcoin as an open protocol for internet transactions, with a focus on launching its prototype mining and self-custodial products, which Ahuja said would soon launch.

At press time, Block's stock XYZ is up 6% over the last day and is trading at $76.85.

Jack Dorsey’s crypto company sees surprising profit jump first appeared on TheStreet on Aug 8, 2025

This story was originally reported by TheStreet on Aug 8, 2025, where it first appeared.

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