According to Foresight News, payment processing company Block Inc. has released its third-quarter financial report, showing a 24% increase in net revenue from $4.52 billion in the same period last year to $5.62 billion. Bitcoin revenue, which represents the total sales of bitcoin sold to customers, jumped from $1.76 billion to $2.42 billion, accounting for approximately 43% of total revenue. Gross profit rose 21% from $1.57 billion to $1.9 billion. Bitcoin gross profit was $45 million, representing 2% of bitcoin revenue. Cash App revenue reached $3.58 billion, a year-on-year increase of 34%, while Square revenue grew 12% to $1.98 billion.