Block plans to launch the Proto Bitcoin mining chip by late 2025, emphasizing production in the US to mitigate trade disruptions. CEO Jack Dorsey highlighted its versatility, stating that it encourages innovation within the Bitcoin ecosystem.
While Block reported 2.29 billion USD in gross profit, it fell short of projections. Macroeconomic challenges have led to a lowered growth forecast for 2025 and a 21.20% drop in stock value following disappointing earnings.
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