Block reports $1.97B in Q3 Bitcoin revenue

Jack Dorsey's payments company, Block (formerly Square), generated $1.97 billion in Bitcoin trading revenue in the third quarter, The Block reported. This figure represents approximately one-third of the company's total revenue. Block provides Bitcoin trading services through its Cash App. During the same period, the company recorded total revenues of $6.11 billion and a net profit of $661.5 million.