Block, a global technology company focusing on financial services, has announced the launch of Bitcoin Conversions, a feature that allows millions of Square sellers to convert a percentage of their daily sales to Bitcoin using Cash App, according to a press release sent to Bitcoin Magazine. This collaboration between Square and Cash App empowers eligible…
Block, a prominent global technology company focusing on financial services, has unveiled significant advancements in its bitcoin mining project today. The company has successfully completed the development of their three-nanometer (nm) bitcoin mining chip and is now in the final stages of producing the design with a leading global semiconductor foundry. This achievement marks a…
Sean Zanni Shares of Block, Inc. (NYSE:SQ) have had an interesting run over the last few years. SQ 5Y Price History (Seeking Alpha) Enjoying a huge wave of optimism in the bull market of 2021, those feelings quickly disappeared as the challenges of 2022 entered the fray. Reaching into the $40s last fall, the stock…
sofirinaja/iStock via Getty Images We previously covered Block (NYSE:SQ) in September 2023, discussing its consistently improving metrics across its profit margins, user acquisition, and stock valuations, with the consensus already rewarding the raised forward guidance with expanded top and bottom line estimates through FY2025. Combined with the well-diversified fintech offerings and improved cross-selling within its…
Sean Zanni Prelude I initially covered Block (NYSE:SQ) in February of 2023 noting that Block has very strong growth prospects with the primary risk of stock-based comp equity dilution. Management executed well on the growth thesis in 2023 and addressed equity dilution risk with a buyback program which led to my most recent Buy rating…
Seibel Photography LLC/iStock Editorial via Getty Images Alaska Air Group (NYSE:ALK) and Hawaiian Holdings (NASDAQ:NASDAQ:HA) announced their merger December 3rd, 2023. Alaska Air Group’s shares experienced a quick drop that appears to have been recovered and sent Hawaiian Holdings’ shares soaring. HA shareholders will receive $18.00 in cash if the merger is ultimately completed. That’s…
PM Images Introduction I wrote a Block, Inc. (NYSE:SQ) piece a few months ago, pointing out that the stock had sold off substantially, to a point where I felt that the bottom was near: Following its huge selloff back to its Covid lows, Block stock now trades at a wide margin of safety with substantial…
Drew Angerer/Getty Images News Thesis I think Block (NYSE:SQ) has a good plan to right-size their cost structure and pursue growth. I am bullish but waiting for some proof of execution momentum before initiating any buys. My ‘Neutral/Hold’ stance is after consideration of these key points: The macros point to mixed signals for top-line recovery…
FotografieLink With Jack Dorsey back in the hot seat with Block (NYSE:SQ), the market appears to be very optimistic on his plans to turn the company’s growth around and reach the Rule of 40 by 2026. In addition to striving for stronger topline growth, Dorsey outlined a number of cost-cutting measures that will be taking…
miniseries Investment Thesis Since its bubble burst in late 2021, Block (NYSE:SQ) stock has failed to recapture positive market sentiment, underperforming the broader market. Yet the quality of Block’s underlying businesses remains robust. Despite valid investor criticisms and a more uncertain growth trajectory, Block’s long-term opportunity still looks compelling. A more disciplined managerial approach has…
OCEAN Mining has released an update to their pool software allowing miners to individually choose between a set of different block templates to mine on. Miners can choose between these three templates at this time: The default OCEAN Knots template, which filters out any inscription transaction, as well as places an additional OP_RETURN limitation of…
Jun Because of the unusual arbitrage situations that are appearing in the crypto-related closed-end funds driven by rapid price changes and uncommon limits to arbitrage due to different geographic regulations or accessibility of markets, I’m swamped looking at a lot of these types of funds. Another one I’ve come across is the Bitwise 10 Crypto…
The wallet was developed by Block’s Proto Team and is in line with the fintech’s vision of increased access and global financial independence.  Jack Dorsey’s Block Inc has rolled out a self-custody Bitcoin wallet available for pre-order in over 95 countries. The Bitkey wallet is made up of a mobile application, a hexagon-shaped hardware device…
In a move aimed at democratizing access to self-custody for Bitcoin, Block, Inc. (NYSE: SQ), led by CEO Jack Dorsey, has finally launched the pre-order for its new hardware wallet, Bitkey, according to a press release sent to Bitcoin Magazine. This new Bitcoin wallet seeks to redefine ownership and security for BTC holders worldwide. Launching…
Today, Wyoming-based Mummolin, Inc, has announced the successful completion of a $6.2 million seed funding round, led by Jack Dorsey, also featuring prominent investors such as Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, and the Bitcoin Opportunity Fund, among others. This funding will fuel the launch of OCEAN, a new initiative aiming to decentralize Bitcoin…
Sean Zanni Thesis Block, Inc. (NYSE:SQ) shows promise with strong financial performance, including a nearly 28% YoY growth in gross profit and record-high adjusted EBITDA. However, concerns arise from its scattered business model, lacking a clear identity and strategic direction across services like Square, Cash App, Spiral, Tidal, and TBD. Comparisons with competition reveal significant…
Foresight Ventures sees the acquisition as an opportunity to establish a significant foothold in the US and contribute to The Block’s growth amidst challenges in the crypto media industry. Singapore-based Foresight Ventures has completed the acquisition of a majority stake in The Block, a prominent crypto news and data provider. The deal, which valued the…
H&R Block, Inc. (NYSE:HRB) Q1 2024 Results Conference Call November 7, 2023 4:30 PM ET Company Participants Michaella Gallina – Vice President of Investor Relations Jeff Jones – President and Chief Executive Officer Tony Bowen – Chief Financial Officer Conference Call Participants Kartik Mehta – Northcoast Research Scott Schneeberger – Oppenheimer & Company George Tong…
dem10 Block (NYSE:SQ) submitted a strong earnings sheet for the third quarter that showed continual gross profit momentum, especially in the Cash App business. The Cash App is Block’s most promising and fastest-growing segment which generated more than 27% gross profit growth in Q3’23. As FinTech scales its product offerings, signs on new customers to…
Lock Stock I found that Block, Inc. (NYSE:SQ) has a good technical set-up for the stock which is supported by a positive earnings report, higher guidance, an attractive valuation, and strong expected long-term growth. The positive Q3 2023 results are a likely catalyst for the stock to run higher at least until the next earnings…
With the advent of software development kits like BDK and LDK, building a bitcoin wallet has never been easier. However, as much as easier development is necessary, it’s important to build in a way that protects user security and privacy by default. For example, how a light wallet connects to a third-party server to receive…
Drew Angerer/Getty Images News Introduction Fintech stocks have been beaten down to oblivion lately. What was once a much-loved emerging industry has turned into one of the most hated investment sectors. Standing (perhaps “lying wounded on the floor” is a more accurate description) front and center during this bloodbath are none other than the three…
Similarly, Block has embarked on a mission to democratize the Bitcoin mining industry. They recently announced plans to produce a ‘Mining Development Kit’ (MDK) for consumers. Block Inc (NYSE: SQ), a digital payments firm co-founded by Jack Dorsey, former Twitter CEO, has released its own Bitcoin (BTC) hardware storage device called BitKey. Designed in the…
It appears financial services giant Block is closer to going public with its first Bitcoin hardware wallet product. Teased yesterday by a beta tester, the images offer a first glimpse of Block’s new Bitcoin hardware wallet, first announced in 2022, and reveal a small hexagon-shaped device complete with a fingerprint censor, which adds an extra layer of…
Digital transformation is rapidly shaping the global financial landscape, and bitcoin, the pioneering decentralized cryptocurrency, stands tall as a symbol of this revolution. While bitcoin’s global popularity is undeniable, there’s an emerging trend spotlighted in a recent survey conducted by Jack Dorsey‘s Block, Inc., in conjunction with Wakefield Research: developing nations are displaying a burgeoning…
Imagesrouges/iStock via Getty Images The Cash App Growth Cadence May Justify SQ’s Premium Valuation We have previously covered a few fintechs, with the incumbent being PayPal (PYPL) and startups being SoFi (SOFI), Upstart (UPST), and Affirm (AFRM). In this article, we will be covering Block (NYSE:SQ), focusing mostly on its Cash App performance, since the…
Jorge Aguado Martin Back in mid-July, I placed a “Hold” rating on Block (NYSE:SQ), saying that while it’s been posting solid growth and its valuation has become more attractive, there were still a lot of questions about competition, the macro environment, and its Cash App business metrics. Since then, the stock has fallen about -17%….
DjordjeDjurdjevic Introduction In my personal opinion, the active development of AI can have a significant impact on a huge number of companies, one of which is H&R Block (NYSE:HRB). Despite the fact that the company’s shares are currently under pressure, I believe that we now have an attractive entry point for opening long positions. In…
One of the standout aspects of Block’s financial report is its strategic approach to Bitcoin investments. American multinational financial technology company Block Inc (NYSE: SQ) has reported a staggering 34% increase in Bitcoin (BTC) sales on its Cash App platform, resulting in a remarkable $2.4 billion in the second quarter. The company stated in its…
Block, Inc. (NYSE:SQ) Q2 2023 Earnings Call Transcript August 3, 2023 5:00 PM ET Company Participants Nikhil Dixit – Head of Investor Relations Jack Dorsey – Co-Founder, Chairman and President Amrita Ahuja – Chief Financial Officer and Treasurer Conference Call Participants Tien-Tsin Huang – JP Morgan Darrin Peller – Wolfe Research Tim Chiodo – Credit…