Block

Microsoft Encounters Stumbling Block in Britain Regarding Activision Deal

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Following the CMA’s decision to veto the Microsoft-Activision deal in Britain, the computer software giant plans to appeal.  Britain’s Competition and Markets Authority has blocked Microsoft’s acquisition of gaming publisher Activision Blizzard (NASDAQ: ATVI). On Wednesday, the top UK regulator opposed Microsoft’s acquisition of the “Call of Duty” publisher. This verdict comes a month after the UK CMA deemed … Read more

Block Shares Plunge 14% After Hindenburg Research’s Report

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Block said it is working with the SEC on how to “explore legal action against Hindenburg Research for the factually inaccurate and misleading report”. American multinational financial technology giant Block Inc (NYSE: SQ) is currently under intense pressure following a damning report from short seller, Hindenburg Research. According to the report, Hindenburg Research accused Block … Read more

Jack Dorsey’s Block Unveils Plans for Its DIY Bitcoin Mining Development Kit

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The MDK would be useful for integrating Bitcoin mining into multiple use cases such as heating solutions, off-grid mining, home mining, or intermittent power applications Jack Dorsey‘s Block Inc has been on a mission to democratize the Bitcoin mining industry and reduce the barrier to entry for new individuals joining the space. On Tuesday, March 7, … Read more

Block Floats New Subsidiary to Help Enhance Lightning Network

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With the new outfit, Block Inc will now have a defined presence, not just as a promoter, but as a major stakeholder in the Lightning Network ecosystem. In its bid to drive the overall usability of the Lightning Network, American multinational payments firm, Block Inc (NYSE: SQ) has announced the establishment of a new subsidiary … Read more

Block Inc’s Cash App Records Bitcoin Impairment in Q4 2022

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Like many other companies, Block invested in Bitcoin when the digital asset price was skyrocketing. Multinational technology conglomerate Block (NYSE: SQ) said the Bitcoin gross profit from its Cash App declined by 25% to $35 million in Q4 2022. According to the report, the total Bitcoin sold, which the company refers to as Bitcoin revenue, was … Read more