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Block

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<ul class="news-points">
 <li>Block’s undisclosed mining deal with Core Scientific could fetch up to $300 million, but analysts await profit margin details.</li>
 <li>With a strategic shift towards crypto hardware, Block aims to solidify its role in the evolving blockchain ecosystem.</li>
 <li>Despite enthusiasm, Block’s stock performance remains tied to broader segments like Square and Cash App.</li>
</ul>
Block, formerly known as Square, has attracted attention with its recent foray into the crypto mining industry, as <a href="https://www.reuters.com/technology/block-investors-need-more-gauge-crypto-units-earnings-potential-analysts-say-2024-07-11/" target="_blank" rel="noopener noreferrer nofollow">reported</a> by Reuters.
Block has signed a deal to supply mining chips to <a href="https://coinedition.com/bitcoin-miners-in-historic-sell-off-dumping-over-30000-btc-worth-2b-this-month/" rel="noopener noreferrer nofollow">Bitcoin miner</a> Core Scientific, demonstrating its growing involvement in blockchain technologies. However, the exact financial details of the agreement remain undisclosed, prompting J.P. Morgan analysts to seek further clarity on the potential impact on earnings.
J.P. Morgan estimates the deal’s value could be between $225 million to $300 million, highlighting the substantial financial stakes involved. The lack of transparency regarding profit margins, however, has tempered initial enthusiasm. J.P. Morgan emphasized the need for greater transparency into the business’s margins before fully assessing its long-term viability, reflect…
The post <a href="https://coinedition.com/jack-dorseys-bitcoin-vision-how-blocks-mining-deal-fits-into-the-bigger-picture/" rel="noopener noreferrer nofollow">Jack Dorsey’s Bitcoin Vision: How Block’s Mining Deal Fits into the Bigger Picture</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Jack Dorsey’s Bitcoin Vision: How Block’s Mining Deal Fits into the Bigger Picture

Coin Edition

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