2018-8-2 13:41 |
Mobile payment firm Square said it made $37 million in revenue from bitcoin sales in the second quarter of 2018.
However, with the cost of facilitating bitcoin purchases mounting to over $36.5 million in the same period, Square again chalked up a small margin of $420,000.
That said, the firm’s bitcoin sales profits nearly doubled compared to the first quarter’s figure of around $223,000, as previously reported by CoinDesk.
Meanwhile, Square disclosed that the carrying value of bitcoin held by itself was $0.4 million as of June 30.
During a conference call on Wednesday, Square’s chief financial officer Sarah Friar said the goal of the bitcoin buying service on the Cash App is not “trying to push on the monetization of bitcoin today.”
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