Block Inc., led by Jack Dorsey, added 108 BTC in Q2, bringing its total Bitcoin holdings to 8,692 BTC. Revenue rose 1.5% to $6.05 billion, with $2.14 billion from Cash App Bitcoin sales. The company recognized a $212.2 million gain from its Bitcoin investment.

The purchase cost $11 million, increasing Block’s total Bitcoin investment to $1.15 billion. The company gained $212.2 million from the investment in Q2. Jack Dorsey’s strategic Bitcoin accumulation approach contrasts with MicroStrategy’s high-conviction model.

Block’s Bitcoin accumulation strategy includes integrating crypto into various business lines. Square plans to enable Bitcoin payments, and Proto division develops Bitcoin mining hardware. Block’s incremental accumulation alongside operational business showcases a prudent approach to integrating assets.

Shares of Block jumped 6% in after-hours trading post-report release. The fintech company was added to the S&P 500 index last month. Charmaine Tam emphasized the importance of creating tangible utility through products for long-term success in the ecosystem.

Read more at Yahoo Finance: Jack Dorsey’s Block Adds 108 Bitcoin in Q2, Posts Higher Revenue and Profit