Key Highlights
- Block disclosed bitcoin reserves totaling 28,355 BTC with a valuation of approximately $2.2 billion on March 31, 2026.
- Customer-held bitcoin reached 19,357 BTC, representing around $1.5 billion in value at quarter-end.
- Corporate treasury bitcoin holdings totaled 8,997 BTC with an estimated worth of $692.3 million.
- Third-party auditors independently confirmed the accuracy of the reserves report published Monday.
- The company emphasized public verification capabilities through blockchain signatures.
Block disclosed bitcoin reserves of 28,355 BTC with an approximate value of $2.2 billion on March 31, 2026. The payment technology company published its quarterly proof-of-reserves disclosure Monday, detailing both customer and corporate bitcoin balances. Independent auditing firms validated the data, which encompasses holdings across the company’s treasury, Square operations, and Cash App platform.
Comprehensive Breakdown of Bitcoin Assets
Block’s quarterly disclosure revealed total bitcoin assets of 28,355 BTC at the conclusion of Q1. The company calculated the valuation at approximately $2.2 billion using prevailing market rates during that period. Independent auditors examined and authenticated these reported figures.
Customer bitcoin balances represented 19,357 BTC, equating to roughly $1.5 billion in value. The firm’s corporate holdings comprised 8,997 BTC with an estimated worth of $692.3 million. This comprehensive accounting included digital assets maintained within the corporate treasury alongside Square and Cash App platforms.
Block emphasized public verification capabilities for its bitcoin reserves using blockchain-based signatures. The company declared, “[People] shouldn’t have to trust that their bitcoin is there, they should be able to verify it.” The statement continued, “Using on-chain signatures, anyone can independently confirm Block’s holdings.”
The firm highlighted active management of reserves beyond mere historical record-keeping. The disclosure noted, “Reserves are actively controlled, not just historically observed.” Block issued this update as part of its commitment to operational transparency.
Industry Standards and Financial Outlook
Cryptocurrency companies increasingly adopted proof-of-reserves reporting following the FTX exchange failure. These disclosures demonstrate verifiable on-chain asset holdings and enhance stakeholder confidence. Block implemented this framework with its latest quarterly update.
Michael Saylor weighed in on reserve disclosures during May 2025, expressing skepticism about public proof-of-reserves reporting. He characterized publishing blockchain-based proof-of-reserves as a “bad idea” while highlighting possible security vulnerabilities. His remarks centered on risks associated with exposing wallet addresses publicly.
Block scheduled its first-quarter 2026 earnings announcement for May 7. The company posted $115.7 million in net income during Q4 2025. This compared to $1.9 billion in net income recorded during the corresponding quarter in 2024.
Block’s equity trades on the New York Stock Exchange with the ticker symbol SQ. The stock finished Monday’s session down 0.49% at $71.28. Despite the daily decline, shares gained 24.9% throughout the preceding month.
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