digital payment giant block (formerly Square) announced its second quarter balance sheet for 2022 today.
Block, which is seen not to sell the Bitcoins in his hand, Bitcoin (BTC) reported a decrease in income from assets.
The company’s BTC The impairment of its assets was found to be $36 million.
The company met that expectation against an average of $4.3 billion in revenue that analysts expected and reported revenue of $4.4 billion.
However, the company saw a 6.6% decrease in its current revenue compared to last year’s second quarter revenue. It was stated that this decrease in revenue was due to the depreciation of Bitcoin assets.
The company said its net income excluding BTC assets was $2.62 billion.
users directly. bitcoin Cash App, the payment service that allows them to buy and sell, generated $1.79 billion in Bitcoin transactions, down 34% compared to the second quarter of the previous year.
The company’s gross profit, on the other hand, decreased 24% from the previous year to $41 million.
electric car manufacturer Teslaannounced that it sold 75% of its Bitcoins in its second quarter balance sheet statement.