Block Inc. bought 120 BTC in the third quarter of 2026, bringing its treasury to 9,237 BTC, valued at approximately $771.9 million as of September 30, 2026, against an estimated cost of $318.6 million. The company funded the purchase by reinvesting part of the gross profit generated by its Bitcoin ecosystem, mainly through Cash App transactions. That profit fell 50% year over year to $52 million because Block deliberately reduced fees to make its Bitcoin services more accessible and improve the conversion of regular dollars into Bitcoin. Meanwhile, Block’s total gross profit rose 22% to $3.24 billion, and management raised its full-year 2026 gross profit guidance to $12.626 billion. Block has been accumulating Bitcoin since October 2020 without selling any of it, relying on operating profits rather than debt or equity issuance to finance purchases.
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