Square nearly doubles their Q1 revenue in Q2 to $125M

posted 17 days ago
Payments company Square reported its second-quarter earnings today, revealing $125 million in bitcoin sales through its Cash App, nearly doubling a record first quarter.

The first quarter of the year was Square’s best quarter for bitcoin to date, at $65.5 million and $832,000 in profit. Clocking $125 million in sales in Q2 represents significant growth and a new record for the company. For comparison, the company reported $166 million in bitcoin sales in all of 2018. Earlier this week, the company clarified the role of Square Crypto, a project within the company created to make open-source contributions to the bitcoin protocol and ecosystem.
Tags: bitcoin, news