ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Square Generated $34M In Revenue From Bitcoin Sales But Only $223K In Profit



De Silva

Bitcoin trading is supposed to be big business. That isn’t the case for Square.

According to its 10-Q quarterly report filed with the US Securities and Exchange Commission, Square brought in approximately $34.1 million in revenue from its bitcoin transactions during the first quarter of the year. That sounds terrific at first glance but, unfortunately, that was offset by bitcoin costs of $33.87 million. That means Jack Dorsey's payments processing company took home just about $223,000. Though not a great look, bitcoin-related profits may be beside the point for the company.

It appears that profits were simply the difference between the price at which consumers purchased the cryptocurrency and the price at which Square initially acquired the bitcoin. Most major cryptocurrency exchanges charge small transaction fees for the purchase or sale of bitcoin and other cryptocurrencies, but Square's Cash App does not. Some analysts have speculated that Square integrated bitcoin trading to encourage customers to download the Cash App.

ETHNews reported on Square's integration in February 2018.

Matthew De Silva

Matthew has a passion for law and technology. He graduated from Georgetown University, where he studied international economics and music. Matthew enjoys biking and listening to tech podcasts. He lives in Los Angeles.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Square, bitcoin or other Ethereum business and finance news.