Block posts 34% increase in Bitcoin revenue in Q2 but shares stumble By Cointelegraph

Shares in payment technology firm Block Inc. tumbled after hours despite its second-quarter results beating earnings expectations, including a 34% year-on-year increase in (BTC) revenue.

In a Q2 earnings call, Block reported a whopping $2.4 billion in Bitcoin sales on its Cash App platform, with gross profit from Bitcoin sales coming in at $44 million, a 7% increase from the same time last year.