Block Reports $207M Bitcoin Gains as Cryptocurrency Revenue Soars 37%
• Block reported $207M gain on its bitcoin holdings, now worth $340M
• Cash App made $66M profit on bitcoin sales, up 90% year-over-year
• Bitcoin revenue was $2.52B, up 37%; driven by price appreciation
• Block's gross profit grew 22% to $2.03B; Square up 18%, Cash App up 25%
• Shares up 13% after-hours on strong earnings report