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, seeing a 3X growth YoY.