Block Inc. Discloses 28,355 BTC Holdings Worth $2.2 Billion in Q1 Proof-of-Reserves Report

Gate News message, April 28 — Block Inc., the fintech company led by Jack Dorsey and home to Square and Cash App, published its first-quarter proof-of-reserves report on Monday, disclosing total bitcoin holdings of 28,355 BTC, worth approximately $2.2 billion as of the end of March 2026. The report, confirmed by third-party auditors, covers assets held through the company's corporate treasury, Square, and Cash App.

Among the total holdings, approximately 19,357 BTC ($1.5 billion) were held on behalf of customers, while corporate holdings totaled 8,997 BTC, valued at roughly $692.3 million. The company stated that using on-chain signatures, anyone can independently verify Block's holdings, emphasizing that reserves are actively controlled rather than historically observed.

The disclosure reflects a broader industry trend toward transparency following the FTX collapse, with many crypto firms adopting proof-of-reserves measures. Block is expected to announce its first-quarter 2026 earnings results on May 7. In the fourth quarter of 2025, the company reported net income of $115.7 million, compared with $1.9 billion in the same period of 2024. Block's NYSE-listed shares closed 0.49% lower at $71.28 on Monday but remained up 24.9% over the past month.