Tag: Square

Square is considering building Bitcoin miners, says CEO Jack Dorsey

Square is considering building Bitcoin miners, says CEO Jack Dorsey

Digital payment platform Square may become the next big thing in ASICs. In an October 15 tweet thread, CEO Jack Dorsey announced Square’s plans for Bitcoin mining: In addition to promising to “build in the open,” Dorsey emphasized the need for greater accessibility and decentralization of Bitcoin mining. The outsized role of the major mining […]

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Jack Dorsey Says Square Is Considering Building a ‘Bitcoin Mining System Based on Custom Silicon’

Jack Dorsey Says Square Is Considering Building a ‘Bitcoin Mining System Based on Custom Silicon’

Following the latest report from Cambridge University that shows a large percentage of the Bitcoin network’s hashrate resides in the United States, the CEO of Twitter and Square, Jack Dorsey, has announced that Square is considering building a “bitcoin mining system based on custom silicon.” Square Considers Building a Mining System On the same day […]

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Square joins patent non-aggression pact through Open Invention Network

Square joins patent non-aggression pact through Open Invention Network

Payments company Square has become a member of the Open Invention Network (OIN), an organization that aims to reduce patent aggression in favor of open-source software, according to a Tuesday release.  By joining as a member of OIN, Square can cross-license its patents to other members on a royalty-free basis — reducing patent risk while […]

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Jack Dorsey Discusses Square Building a ‘Bitcoin-Native’ Dex Platform, Project Lead Shares Insight

Jack Dorsey Discusses Square Building a ‘Bitcoin-Native’ Dex Platform, Project Lead Shares Insight

On Friday, the CEO of Twitter and Square, Jack Dorsey talked about the decentralized exchange Square is constructing called “TBD” or the “TBD BTC DEX.” First mentioned in July, Dorsey tweeted that the company has “determined [TBD’s] direction and he also shared a Twitter thread written by Mike Brock, the TBD lead at Square. Jack […]

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Square’s Cash App Saw 3x Revenue Increase From the Bitcoin Services in Q2 2021

Square’s Cash App Saw 3x Revenue Increase From the Bitcoin Services in Q2 2021

Square, the financial service company run by the BTC bull Jack Dorsey, has nearly doubled its gross profit in the second quarter of 2021 compared to the same part of last year. Interestingly, a substantial part of that increase came from the company’s Bitcoin-related services, which have blossomed since the start of 2021. Square’s Gross […]

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Jack Dorsey’s Square to acquire fintech firm Afterpay for $29 Billion

Square announced yesterday that it will be signing a Scheme Implementation Deed with fintech firm, Afterpay. According to the deal, Square will be acquiring all the issued shares in Afterpay at approximately $29 billion, following the closing price of Square common stock on July 30, 2021. The acquisition will be completed by Q1, 2022. The […]

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Square’s Q2 Bitcoin Revenue Grows 3X YoY, Impairment Losses at $45 Million

Square Inc., the Bitcoin payment app led by Jack Dorsey released its quarterly financial reports for shareholders on August 1st, reporting $4.68 Billion in total revenue in the second quarter of 2021.  Square’s revenue grew 143% year-on-year (YoY). The firm mentioned it has seen a “significant growth in Bitcoin revenue,” estimated to be worth$2.72 Billion, […]

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Bitcoin will be a ‘big part’ of Twitter’s future, says CEO Jack Dorsey

Bitcoin will be a ‘big part’ of Twitter’s future, says CEO Jack Dorsey

Twitter CEO Jack Dorsey has said that bitcoin will be a “big part” of the company’s future. This is the first time Dorsey has publicly spoken in such depth about how the world’s largest cryptocurrency could be integrated into Twitter’s products. On Twitter’s second-quarter 2021 earnings conference call on Thursday, Dorsey said bitcoin is the […]

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Jack Dorsey, Elon Musk and Cathie Wood set for live talk during bitcoin conference this week

Jack Dorsey, Elon Musk and Cathie Wood set for live talk during bitcoin conference this week

The Bitcoin-centered conference “The ₿ Word” has been confirmed for this week, as well as entrepreneur Elon Musk’s attendance.  Musk, the CEO of Tesla, will participate in a live discussion with Square and Twitter CEO Jack Dorsey and Ark Invest founder and CEO Cathie Wood during the conference, which will commence at 12 p.m. on […]

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Jack Dorsey announces plan for developer platform focused on bitcoin financial services

Jack Dorsey announces plan for developer platform focused on bitcoin financial services

Jack Dorsey, CEO of Square, said Thursday that the payments services business is working to create “an open developer platform” focused on bitcoin-tied financial services. Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, […]

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