Block Inc. (NASDAQ:SQ) reported a significant profit from its Bitcoin investments, largely driven by sales through its Cash App. In Q4 2023, Block's Bitcoin sales reached $2.52 billion, a 37% increase year-over-year, resulting in a gross profit of $66 million, up 90% from the previous year. The company's strategic Bitcoin purchases in late 2020 and early 2021 have led to a current estimated profit of $207 million. The Cash App generated $205 million in Bitcoin profits in 2023, with total Bitcoin revenue of $9.50 billion. Block's overall revenues for the fiscal year increased by 33.54%, reversing a previous downward trend. Following the earnings report, Block's stock price surged 20% to $52 per share, and after-hours trading saw a further 13% increase to $76.95.