Block Inc.‘s (NYSE:XYZ) investment in Bitcoin (CRYPTO: BTC) has surged in value, with the company’s holdings now worth nearly a billion dollars.
What Happened: According to the company’s second quarter 2025 financial disclosures, the value of its Bitcoin treasury has grown over 81% year-over-year, and the company has recorded a significant “remeasurement gain” for the quarter under new accounting rules for crypto assets.
The company’s investment, held for long-term purposes, saw its value increase from $514.584 million as of June 30, 2024, to $931.656 million as of June 30, 2025, about 81.05% higher over a year.
The 10Q filing shows that this valuation jump was accompanied by a notable remeasurement gain of $212.17 million in the second quarter of 2025, which reflects a sharp contrast to the $70.12 million remeasurement loss recorded in the same period last year.
The shift in reporting is due to the company’s accounting for its Bitcoin as an “indefinite-lived intangible asset,” under the new accounting rules.
According to CoinGecko, this makes Block a company with the 12th largest BTC treasury worldwide.
Strategy Inc. (NASDAQ:MSTR), formerly MicroStrategy, MARA Holdings Inc. (NASDAQ:MARA), Cantor Equity Partners Inc. (NASDAQ:CEP), Riot Platforms Inc. (NASDAQ:RIOT), and Trump Media & Technology Group Corp. (NASDAQ:DJT) have the top five largest BTC Treasuries worldwide.
Why It Matters: The company also holds a smaller amount of Bitcoin for operational purposes, which is purchased and sold to facilitate customer transactions on its Cash App platform.
The value of this operational Bitcoin grew from $573.302 million to $514.584 million between March 31, 2024, and June 30, 2024, reflecting the dynamic nature of its customer-facing business.
Block stated that this operational Bitcoin is held for a relatively short time, and changes in its fair value are not material to the company.
Block reported earnings of 62 cents per share, which missed the analyst consensus estimate of 68 cents. Its revenue came in at $6.05 billion, which missed the analyst consensus estimate of $6.24 billion and is down from revenue of $6.15 billion from the same period last year.
Price Action: XYZ stock jumped 9.16% in premarket on Friday after rising 0.95% on Thursday and 5.5% in after-hours. It was down 11.41% year-to-date but 25.55% higher over the past year.
Benzinga’s Edge Stock Rankings indicate that XYZ maintains a strong price trend in the long, short, and medium terms. However, the stock scores moderately on growth rankings. Additional performance details are available here.
Price Action: The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Friday. The SPY was up 0.34% at $634.40, while the QQQ advanced 0.33% to $571.12, according to Benzinga Pro data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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