Tag: block

Shares of Block Inc. plunged in after-hours trading on Thursday after its third-quarter results failed to meet Wall Street expectations.

Block is on track to make history as the first company with an explicit Bitcoin strategy to join the prestigious S&P 500 index.

Block was one of the first public companies to integrate Bitcoin into its balance sheet, a move noted by the firm's co-founder, Jack Dorsey.

Block holds 8,038 bitcoins, representing approximately 9% of the company's total cash, cash equivalents, and marketable securities.

Block did not correct its processes when it was alerted to the alleged breaches of compliance, the former employee alleged.

Block announced the completion of the development of a three-nanometer chip specifically designed for BTC mining.

Block stated that the total sale amount of Bitcoin sold to customers (shown as Bitcoin revenue) was $2.5 billion.

Dorsey’s Bitcoin-focused TBD business unit, a part of Block, is focused on building on this new venture of the firm called Web5.