According to Mars Finance, Block CEO Jack Dorsey stated that the company’s Bitcoin mining chip Proto will be launched in 2025 and will be produced in the United States to address tariff and overseas manufacturing risks. Dorsey emphasized that collaboration with domestic suppliers and manufacturers will ensure the chip is released as planned. Block’s gross profit in the first quarter reached $2.29 billion, a year-on-year rise of 9%, with Cash App’s gross profit increasing by 10% to $1.38 billion and Square rising by 9% to $898 million. However, due to the macro environment and weak consumer spending, the company has lowered its full-year gross profit forecast for 2025 to $9.96 billion, a year-on-year rise of 12%.
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