Block Plans 10% Cuts While Expanding Into AI and Bitcoin

Crypto News Business

Block Targets 10% Staff Reduction, Expands Into AI and Bitcoin Mining

Written by Aaron S.,

Editor-In-Chief

Last Updated: February 09, 2026

Key Takeaways

Block may cut up to 10% of staff as part of its ongoing restructuring and push to align Cash App with Square;
Analysts expect Q4 profit of about $403 million on $6.25B revenue, after Q3 growth in Cash App and Square;
Bitcoin stayed a major revenue source, though lower than last year; Block held about 8,780 BTC worth over $1 billion.

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Block Targets 10% Staff Reduction, Expands Into AI and Bitcoin Mining

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Block Inc., led by Jack Dorsey, has begun informing many employees that their roles may be cut during its annual performance reviews.

On February 8, Bloomberg reported that the reductions could reach up to 10% of staff. Block had under 11,000 employees as of November 2025.

The company began reorganizing in 2024, with the goal is to improve efficiency by aligning Cash App and Square more closely.

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Block is also expanding into other areas. It continues to build its Bitcoin BTC $68,961.51 mining division, Proto, and is developing an artificial intelligence (AI) tool called Goose.

Analysts expect Block to report about $403 million in adjusted fourth-quarter profit and roughly $6.25 billion in revenue when it releases earnings on February 26, according to Bloomberg.

In the previous third quarter, Block earned about $461.5 million on $6.11 billion in revenue. Gross profit grew 18% year over year. Cash App grew 24%, and Square grew 9%.

Bitcoin remained an important revenue source in the third quarter. It generated about $1.97 billion, down from $2.4 billion a year earlier.

Block held roughly 8,780 BTC at the end of September 2025, valued at more than $1 billion. The company also recorded a $59 million loss in valuation for the period.

Meanwhile, Nomura Holdings plans to scale back its cryptocurrency exposure after reporting weaker third-quarter profits. What did Hiroyuki Moriuchi say? Read the full story.