Bitcoin gross margins are really low. Their bitcoin revenue is 1.633B and the cost of revenue is 1.601B if you check the earning report.
Doesn’t matter. As a high growth business you’re looking for growth, not profit
square revenue on bitcoin is very misleading. it just means they moved $1.3b in bitcoin sales. Bitcoin volume is $17B per day, so square is way behind here.
It’s not revenue though, it’s volume...