Jack Dorsey’s Block Rakes in Nearly $2B from Bitcoin Revenue in Q3

Block, the fintech company led by Jack Dorsey, generated $1.97 billion in Bitcoin revenue during the third quarter of 2025. The figure represents nearly one-third of the company’s total revenue of $6.11 billion for the period.

Despite the substantial contribution, Bitcoin revenue declined from $2.4 billion reported in the same quarter a year earlier. The company’s stock fell 3.7% at market close and continued dropping in after-hours trading.

Tether just bought $100M worth of Bitcoin for their treasury

Jack Dorsey’s Block bought some too today

All the big players are accumulating at these levels, while retail panic sells pic.twitter.com/b1Ru6FCAt3

— 0xMarioNawfal (@RoundtableSpace) November 7, 2025

Block’s quarterly earnings reached $461.5 million, while gross profit hit $2.66 billion, marking an 18% year-on-year increase. Net profit surged by 64% compared to the previous year.

Block’s Financial Performance Falls Short of Expectations

The company missed several key analyst targets for the quarter. Adjusted operating income reached $409 million, falling below the consensus estimate of $473 million.

EBITDA rose 3% to $833 million but missed the predicted $840 million. Market analysts from Zacks had estimated sales at $6.34 billion and earnings per share of $0.63.

Actual figures came in lower, with revenue at $6.11 billion and adjusted earnings per share of $0.54. Bitcoin costs decreased to $1.89 billion from $2.36 billion year-on-year.

Bitcoin remains Block’s second-largest revenue stream, trailing only subscriptions and services. The company projects fourth-quarter gross profit will reach approximately $2.75 billion, representing a 19% annual growth rate.

Block’s Bitcoin Holdings and Regulatory Challenges

Block increased its Bitcoin holdings to 8,780 BTC by the end of September, up from 8,485 BTC at the start of 2025. The holdings are valued at over $1 billion.

The company recorded a negative remeasurement of $59 million for the quarter and $178 million year-to-date on its Bitcoin assets.

🔔JUST IN: Jack Dorsey's Company Block, @TheBlock__ Boosts Bitcoin Investments.

The crypto data company is now building a Mining & Self-custody Wallet. #Bitcoin #Crypto pic.twitter.com/Oh3yxLK8pJ

— Coinwaft (@coinwaft) November 8, 2024

Meanwhile, Block faces significant regulatory scrutiny. In April 2025, the company agreed to pay a $40 million civil fine to New York’s Department of Financial Services.

The settlement addresses charges that Block failed to adequately police and prevent money laundering on its Cash App mobile payment service. New York regulators faulted “critical gaps” in the company’s Bank Secrecy Act compliance programs.

The alleged shortfalls included inadequate customer due diligence and insufficient risk-based controls to counter illegal activities such as money laundering and terrorism financing.

Block also agreed to hire an independent monitor as part of the settlement. The company did not admit or deny wrongdoing in its statement.

Following the New York settlement,

“all previously pending state money transmission license matters

Block stated

In January 2025, the company had agreed to pay an $80 million civil fine to settle similar charges from 48 U.S. state financial regulators.