Block Inc. has increased its corporate Bitcoin treasury by 85 BTC, bringing its total holdings to 9117 BTC and ranking it 15th in the Bitcoin 100 corporate holdings list. The purchase raised Block's Bitcoin balance from 9032 BTC to 9117 BTC, as reported by Bitcoin Treasuries.NET. The timing and price of the purchase were not disclosed. This acquisition follows Block's entry into the S&P 500, where it became the second crypto-focused company to join the index after Coinbase. Block replaced Hess Corp. on July 23, 2023, after Chevron's acquisition of Hess. The company has a strategy of allocating 10% of its monthly gross profit from Bitcoin-related products to buy more Bitcoin. Block, originally founded as Square in 2009 and rebranded in December 2021, has expanded its services to include blockchain infrastructure and digital assets. The latest treasury increase reflects ongoing changes in corporate Bitcoin strategies, with Block focusing on integrating Bitcoin across various business lines rather than solely as a reserve asset.
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