What Happened: The Jack Dorsey-led company said in its Q3 earnings letter that the Cash App generated $1.82 billion of BTC revenue in the period - a rise of 11% year-over-year - while gross profit rose 29% year-over-year to $42 million.Ĭash App’s gross profit rose to $512 million, which is an increase of 33% year-over-year. Square Inc’s (NYSE: SQ) Cash App third-quarter revenue from Bitcoin (CRYPTO: BTC) fell over 33% compared to the previous quarter.
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