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Jack Dorsey’s Block shifts focus to bitcoin mining
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Jack Dorsey’s Block shifts focus to bitcoin mining

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Block is altering its approach in the cryptocurrency space, as revealed in its third-quarter earnings call.

Block continues to hold a significant bitcoin stake, valued at around US$630 million.

It plans to progress in bitcoin mining and the Bitkey wallet.

Despite these changes, Block CEO Jack Dorsey reaffirmed the company’s dedication to enhancing bitcoin accessibility.

Meanwhile, Dorsey focused entirely on the company’s small business lending, including the buy now, pay later product from Afterpay, acquired by Block for US$29 billion in 2021.

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