Block, Inc.
XYZ · NYSEOperating co.HighUSA
BTC held
9,117
as of Jun 30, 2026 · 0.043% of 21M
Value now
$709M
at BTC $77,722
Basic mNAV
70.86×
mkt cap $50.2B as of Aug 28, 2026
Sats per share
1,518
601M shares as of Jun 30, 2026
Cost basis
- Average cost per BTC
- $34,024
- Total invested
- $310M
- Unrealized gain
- $398M (+128.4%)
Treasury debt
- Convertible senior notes due Nov 1, 2027 — general corporate financing, not raised to fund BTC purchases. The $575M 0% converts due 2026 were settled in cash at maturity on May 1, 2026 with no conversion. · 0.25%$575M · due 2027-11-01
Recent activity
Block added 149 BTC in Q1 and 85 BTC in Q2 2026 with no sales, lifting long-term investment holdings from 8,883 BTC at end-2025 to 9,117 BTC ($533.9M fair value vs $310.2M cost basis at June 30, 2026). Avg cost of ~$34,024/BTC is derived from the 10-Q cost basis.
Risk notes
Bitcoin is a small non-core position (~1% of its ~$50B market cap), so no mNAV dynamics, but fair-value swings hit GAAP earnings — a $261.3M remeasurement loss in H1 2026 — and Cash App bitcoin revenue declined amid lower BTC prices.
Sources
- https://www.sec.gov/Archives/edgar/data/1512673/000162828026053368/xyz-20260630.htm
- https://stockanalysis.com/stocks/xyz/
- https://www.crowdfundinsider.com/2026/08/295871-fintech-firm-block-xyz-expands-bitcoin-treasury-to-over-9100-btc/
- https://bitcointreasuries.net/
Figures are compiled from public disclosures and may lag. This page is information, not investment advice or a recommendation regarding XYZ securities.