Dorsey’s Block raises full-year guidance after ‘strong’ Q1, records $173 million bitcoin remeasurement loss
The Block
Block raised its full-year guidance after a strong Q1, despite a $173 million bitcoin remeasurement loss.Summary
Jack Dorsey's fintech firm Block reported a $173 million bitcoin remeasurement loss in Q1 2026, contributing to a net loss of $309 million. This non-cash loss stems from the fair value accounting of Block's 28,355 BTC treasury and customer holdings. Despite this, Block's total gross profit increased 27% year-over-year to $2.91 billion, driven by strong performance in its Cash App, which saw 38% gross profit growth. The company is raising its full-year guidance, expecting 19% gross profit growth and 62% adjusted diluted EPS growth in 2026, following a 40% workforce reduction earlier in the year.
(Source：The Block)