Mobile payments using Bitcoin on Square's Cash App have shown healthy growth based on the company's unaudited second quarter results for 2018 released yesterday.

Square's Bitcoin business showed $37 million in revenue over the period ending June 30, 2018 and with costs around $36.6 million showed a gross profit of $420,000 or 1.1% on their Bitcoin offering.
Square's Bitcoin Revenue and Costs for the Past 2 Quarters




Q1
Q2
% Growth


Bitcoin Revenue
$34,095 k
$37,016 k
9%


Bitcoin Costs
$33,872 k
$36,596 k
8%


Bitcoin Gross Profit
$223 k
$420 k
88%


Bitcoin % Gross Margin
0.7%
1.1%
73%



While the revenue from Bitcoin comprises a reasonably small amount of the mobile payment firms overall top line (

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