Square offers the most profitable bitcoin business among publicly traded U.S. companies

Another quarter, another record level of bitcoin sales volume from Square's Cash App: this time the p2p payment and mobile banking app served more than $300 million worth of bitcoin sales in the first quarter of 2020.

To be fair, we knew this was likely coming. In March the company released a company update in lieu of its originally planned annual investor day, which included CFO Amrita Ahuja stating that Cash App had seen a recent uptick in bitcoin engagement amid the market turmoil driven by the coronavirus crisis, and Jack Dorsey also confirming "stronger engagement and volume for Bitcoin."