Block Inc. Increases Bitcoin Holdings to 9,237 BTC Amid Mixed Q3 Performance

Block Inc. has reported that it added 120 Bitcoin to its corporate balance sheet during the third quarter of 2026, increasing its total holdings to 9,237 BTC. This acquisition was disclosed in the company’s Q3 earnings release on November 3, 2026.

As of September 30, 2026, Block's Bitcoin holdings were valued at approximately $771.9 million, with an estimated cost basis of $318.6 million. The company funded this purchase by reinvesting part of the gross profit generated from its Bitcoin ecosystem, primarily through Cash App transactions. However, this segment saw a 50% year-over-year decline in gross profit, dropping to $52 million, attributed to fee reductions aimed at enhancing accessibility for users.

Despite the downturn in the Bitcoin ecosystem, Block's overall performance remained robust, with total gross profit rising 22% year over year to $3.24 billion in Q3. Management has raised the full-year gross profit guidance to $12.626 billion, indicating a healthy growth trajectory for the company.

Block's strategy of accumulating Bitcoin has been consistent since it began in October 2020 under co-founder Jack Dorsey. The company has not sold any of its Bitcoin holdings, opting instead to fund purchases through operational profits rather than speculative trading or leveraging debt. This cautious approach has positioned Block as one of the larger public corporate holders of Bitcoin.

For shareholders, the Bitcoin position reflects a significant unrealized gain, with the current valuation of $771.9 million against a cost basis of $318.6 million. However, the ongoing fee cuts in the Cash App may impact future Bitcoin purchases, as they are directly tied to the revenue generated from that segment.