Block’s Q4 Report Shows Bitcoin Revenue Drop, But Overall Profits Rise
• Block Inc. reported a drop in bitcoin (BTC) sales in its Q4 results, with revenue falling by 7% year-on-year. • The cause of the decline in bitcoin income is attributed to the decrease in BTC’s price throughout 2022. • Despite the reduced bitcoin sales, gross profit for Block Inc. increased by 40%, and after-hours …
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