Block’s bitcoin gross profit falls 31% after Cash App fee cuts as shares reverse initial gains
↗Block’s Q2 2026 bitcoin ecosystem gross profit fell 31% YoY to $72M as Cash App fee cuts reduced bitcoin revenue, while total bitcoin ecosystem revenue was $1.89B and the company raised its full-year gross profit guidance to $12.51B despite unrealized BTC losses and a 9,032-BTC treasury; USDC support was launched in Cash App and shares traded lower after hours.
Aug 6, 20261%