Follow earnings-related crypto news, quarterly results, mining revenue, exchange performance, and financial updates from digital asset firms.
Despite the financial setback, the company reported $70.0 million in revenue for the quarter, down slightly from $76.7 million in the prior year.
Assad Jafri 2 min read 
The company also saw record quarterly revenue of $165.2 million.
The company plans to shift 500 megawatts of its infrastructure to high-power computing.
The company also reported record revenues of $618 million for the quarter.
The firm has a lower valuation than its peers despite increased earnings.
A significant component of the revenues was a $650 million mark-to-market gain on digital assets held for investment, following new accounting standards adopted by the company.
With its latest purchases, MicroStrategy now holds 214,400 BTC in total — equating to roughly 1% of the total Bitcoin supply.
The company mined a record 12,852 BTC in 2023, which drove its revenue to $387.5 million.
Gross payment volume of Block's Cash App rises 10% YoY, underpinned by Bitcoin revenue surge
