Cash App's bitcoin gross profit rose to $55 million, Square said in its second-quarter letter to shareholders.
Of the remaining $25 million, $5 million was distributed to create The Bitcoin Endowment.
The announcement comes as the environmental impact of mining for the world's largest cryptocurrency has come under intense scrutiny.
“If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community,” Dorsey said in the Twitter thread.
Julie Stitzel was at the U.S. Chamber of Commerce's Center for Capital Markets Competitiveness prior to joining Square.
The new Crypto Council for Innovation hopes to inform and influence regulatory efforts worldwide.
Nobody puts bitcoiners in a corner.
Ahuja said her company sees bitcoin and cryptocurrency as "expanding access to financial services" particularly on a global scale.
According to Arcane, the new corporate buyers appear intent on keeping the cryptocurrencies for the long term "and see further upside potential in bitcoin."
Analysts with Royal Bank of Canada and Goldman Sachs gave divergent estimates for the bitcoin-friendly payments firm.
The $4.57 billion in bitcoin revenue translated to $97 million in profit.