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Square’s Bitcoin Revenue Increases by $6 Million in Q3, Profits Top $500,000

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Jack Dorsey’s payment network Square continues expanding its Bitcoin popularity since it was introduced in February. U.S. financial services company Square revealed it generated $43 million in Bitcoin (BTC) revenue for Q3 2018 in its most recent shareholder letter Nov. 8.Presenting a digest of its total earnings and financial activities, Square, which introduced Bitcoin support in its Square Cash payment app earlier this year, saw cryptocurrency revenue grow by a total of $6 million compared to Q2.“Total net revenue was $882 million in the third quarter of 2018, up 51% year over year. This includes $43 million of bitcoin...
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