Their Bitcoin "revenue" is simply the face value of the Bitcoin they sell. It's like if Charles Schwab counted any stocks people bought as revenue. I suspect

Their Bitcoin "revenue" is simply the face value of the Bitcoin they sell. It's like if Charles Schwab counted any stocks people bought as revenue. I suspect the difference is that SQ may hold the Bitcoin and sell directly to the user rather than as a broker. But calling it "revenue" is still highly misleading, as margins will be razor thin, by definition (the transaction fee)