Key highlights:
- Block Inc (XYZ) has added 340 Bitcoin worth about $22 million, lifting its total holdings to 8,883 BTC.
- The company recently cut over 4,000 jobs to streamline operations and improve productivity using AI tools.
- Block shares jumped over 20% after earnings met expectations and revenue topped estimates.
Block reported that it purchased 340 Bitcoin during the fourth quarter of 2026, extending its long term treasury strategy around digital assets. The company said the newly acquired holdings were valued at about $22 million at the time of disclosure and have been added to its balance sheet as reserve assets.
The purchase reinforces the Bitcoin focused strategy that has been in place since Block’s early treasury allocations. According to data from BitcoinTreasuries, Block now ranks among the top public companies holding Bitcoin, with a total of 8,883 BTC on its books.
Block Inc Adds Bitcoin to its Treasury
The Bitcoin position was valued at roughly $777.5 million at the end of 2025. The company also recorded a remeasurement loss of about $55.9 million during the fourth quarter due to the decline in Bitcoin’s market price. Even so, Block reported that gross profit from its Bitcoin ecosystem rose by about 10 percent year on year in the fourth quarter, supported in part by shipments from its Proto mining hardware unit.
Alongside its Bitcoin update, Block also drew attention for a major restructuring move. In a memo shared on X, Dorsey confirmed that the company laid off more than 4,000 employees in a single day. The layoffs represent close to 40 percent of Block’s workforce. The company said the cuts are part of a shift toward a leaner operating structure that depends more heavily on AI tools to support productivity.
The layoffs followed a period of rapid hiring between 2019 and 2022, when Block’s headcount rose from about 3,900 employees to more than 12,500. Dorsey acknowledged that the company expanded too quickly during that period and said management had already begun restructuring in mid 2024 to bring the organization back into a more unified structure. He added that Block’s current focus is to increase gross profit per employee to above $2 million, compared with roughly $500,000 per employee over the previous five years.
The job cuts drew wide attention across the technology and crypto sectors. Changpeng Zhao, known as CZ, commented on the development on social media. He wrote that companies that fully apply artificial intelligence tools will likely gain an advantage in productivity, while others risk being displaced.
Reality: Learn to use AI to the max, or be laid off. https://t.co/6MbjyfiEw5
— CZ 🔶 BNB (@cz_binance) February 27, 2026
Despite the scale of the layoffs, investors responded positively to Block’s financial update. Shares of the company rose sharply in after hours trading following the announcement. Data from TradingView showed the stock climbing by more than 20 percent, moving close to $66 after closing the prior session at $54.
The stock move came as Block’s fourth quarter results met market expectations. The company reported earnings per share of $0.65 for the quarter. Revenue reached $6.25 billion, slightly above analyst estimates of $6.22 billion. For the full year 2025, Block posted gross profit of $10.36 billion, up 17 percent from the previous year. Adjusted diluted earnings per share came in at $2.37, while adjusted operating income totaled $2.08 billion, representing a margin of 20 percent.
The combined results suggest a company balancing cost restructuring with continued investment in Bitcoin infrastructure. The firm’s Proto unit, which focuses on mining hardware, remains a central part of that strategy. Management has said the division aims to support decentralization in mining and also building a new revenue stream tied to Bitcoin’s broader ecosystem.
Also Read: GD Culture to Sell Bitcoin Holdings to Support Buybacks
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