**News Flash: Block Inc. Reports Strong Q2 2024 Earnings**

Block Inc., led by Jack Dorsey, has unveiled its Q2 2024 earnings, showcasing a 9% rise in Bitcoin revenue year-over-year. Bitcoin revenue hit $2.61 billion, contributing to a total net revenue of $6.16 billion, an 11% increase from the same period in 2023.

Key Highlights:

- Excluding Bitcoin, revenue was $3.54 billion, up 13%.

- Cash App generated $4.13 billion in revenue, with $1.52 billion excluding Bitcoin.

- Bitcoin gross profit for Cash App surged 52% to $67 million.

The company attributes the Bitcoin profit boost to a 45% rise in BTC prices this year, currently trading at $64,777. Despite a $70 million loss from Bitcoin holdings, Block's gross profit grew 20% to $2.23 billion, and net income for shareholders nearly doubled to $195 million.

In May, Block announced a $2 billion debt raise, ending Q2 with $10.3 billion in liquidity, aimed at debt repayment, acquisitions, and strategic investments.