Bitcoin Trading Nets Square $37 Million in Q2 201859.36

Square has announced earnings of $37 million for the second quarter of 2018 on its peer-to-peer mobile money app, Square Cash. However, even though some of its financial results exceeded expectations, the company still made a net loss of $6 million across the business.

Based on the second quarter performance report released by Square, Bitcoin trading revenue is steadily increasing. However, despite this increase, the company barely made a profit on BTC trading in Q2 2018. Square incurred $36,596,000 as the operational cost on BTC trading — meaning the company made less than a profit of $1 million on Bitcoin trading.

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