The company's Bitcoin position was detailed in its Q2 filing alongside a stronger-than-expected earnings report.
Block acquired 234 Bitcoin during the first half of 2026, bringing its corporate Bitcoin holdings to 9,117 BTC by June 30, the company disclosed in a recent filing.
However, a sharp decline in Bitcoin prices pushed the value of the holdings down to approximately $534 million as of June 30, from about $777 million at the end of 2025. The fintech company co-founded by Jack Dorsey recorded over $260 million in losses on its Bitcoin investments during the first half of 2026.
The Bitcoin holdings were disclosed as part of Block’s second-quarter results, which showed continued momentum in its Cash App and Square businesses, helping offset weaker Bitcoin Ecosystem revenue.
Adjusted EPS rose 64.5% year-over-year to $1.02, beating the 86-cent consensus estimate, while revenue increased 9.3% to $6.6 billion. Total gross profit climbed by 24.8% to approximately $3.2 billion.
Cash App continued to be a key growth driver, with gross profit rising more than 30% year over year as Commerce Enablement and consumer lending activity expanded. Primary Banking Actives also grew strongly, while monthly transacting actives reached nearly 60 million.
Square also posted solid growth, with gross payment volume increasing at a double-digit rate and both US and international activity strengthening. Square gross profit rose at a low double-digit pace, supported by higher payment volumes, greater software adoption and growth in Financial Solutions.
Bitcoin Ecosystem revenue, however, declined by nearly 13% during the quarter.
