In its recently published unaudited letter on earnings, square reveals the company’s total net revenue of Q1 2019, that grew 43% year over year, amounting to $959 million. Within which the bitcoin revenue was marked as $65.5 million. For the same period, Bitcoin costs amounted to $64.7 million, implying that overall bitcoin profits amounted to roughly $830,000.
Square and Twitter CEO Jack Dorsey announced in March that Square was hiring cryptocurrency engineers and was offering to pay them in bitcoin. Dorsey further noted that the decision to pay employees in the digital currency is aimed “to make the broader crypto ecosystem better,” thus contributing to the bitcoin community.
Image Source – Unsplash.com